A policy under which the insurer pays a specified amount of money to or on behalf of the insured upon the occurrence of a defined loss. The money amount is not related to the extent of the loss. Life insurance policies are an example.

"Valued Policy" In Context

"India is still a market that is fairly highly valued, says Masha Gordon of PIMCO. "The key here will be the delivery of earnings growth and the delivery on the policy agenda," she adds. She further says, "In 2013, there is a high probability ..."