Meaning of the word: Insurance policy
Insurance or insurance policy is a agreement between the insurer and the insured or policyholder. It is a paid service, when the insured pay regular insurance amounts to insurer. The insurer undertakes to ensure that if there is an incidental claims, shall pay the costs. The insurance applies only to previously agreed contractually written event is paid only in compliance with all the conditions.
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FROM DICTIONARY
Interest on arrears
Interest on arrears is charged to the debtor in case that he doesn't pay his loan in time. It is not a classic sanction, but it is the refund money.…
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