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valued policy: Meaning and Definition of

val'ued pol"icy

Pronunciation: [key]
— Insurance. Insurance.
  1. a policy in which the company and the policyholder agree to the amount to be paid in the event of total loss of property, regardless of the value of the property.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
value date value judgment
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