The correct answer is: A. Plan and Term
The policy schedule is a document that summarizes the key terms and conditions of an insurance policy. It includes information such as the policy number, the insured’s name, the policy type, the coverage amount, the deductible, and the policy effective date. The policy schedule is not a contract, but it is an important document that should be kept in a safe place.
The plan and term of an insurance policy are not found in the policy schedule. The plan refers to the type of insurance policy, such as life insurance, health insurance, or car insurance. The term refers to the length of time that the policy is in effect. This information is typically found in the declarations page of the insurance policy.
The other options are all found in the policy schedule. The sum insured is the amount of money that the insurance company will pay out if the insured makes a claim. The rights/privileges are the benefits that the insured is entitled to under the policy. The policy number is a unique identifier for the policy.