Provision

A clauseThis identifies a specific part of a policy or endorsement., sentence or paragraph of an insuranceSee "property insurance;" "private mortgage insurance;" "insured mortgage;" "title insurance." contractThe formal legal document, also known as the "policy" that describes the agreement between the policyholder that describes or explains a feature, benefitAmount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss., conditionIn contracts, a future and uncertain event which must happen to create an obligation or which extinguishes, requirement, etc. of the insurance protection afforded by the contract.