What Does Aleatory Mean?

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What does Aleatory mean? Read on to discover the definition & meaning of the term Aleatory - to help you better understand the language used in insurance policies.

Aleatory

Aleatory

Feature of insurance contracts in that there is an element of chance for both parties and that the dollar given by the policyholder (premiums) and the insurer (benefits) may not be equal.

We hope the you have a better understanding of the meaning of Aleatory.

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