Definition: The insurance "license" refers to a document issued by an insurance company to its clients that specifies their responsibilities when involved in an accident or injury. The license may also specify the type of coverage the client desires, such as personal auto, home, life, or business insurance. It is a legal document that outlines the specific terms and conditions under which the client will be covered by the insurance company. The word "insurance 215 license" refers to a specific kind of insurance policy known for its high premium rates, which are typically based on the size of an individual's assets or income. The term also often refers to an insurance policy that offers coverage for life and death damage claims.
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