is a standard form financial document issued by an insurer to insured as a proof of concluded insurance agreement and containing its terms. There are standard and individual insurance policies. Standard insurance policies are issued by an insurer on a wide range of typical insurance risks that are massive. Individual insurance policies (for example, insurance of movie stars’ looks) reflect personal insurance interests, usually associated with a professional career. In all insurance policies there may be special terms and conditions of an agreement that satisfy specific insurance interests and related actions (for example, insured’s testamentary disposition). Inclusion of special terms and conditions of an agreement in insurance policies usually accompanied by application of additional insurance premium, which is expressed in absolute or relative values. The policy serves as a legal proof of an insurance agreement existence and may be brought to a court if necessary. If an insured does not pay premium on a policy that is subject to be given to insured or is indebted, a broker is entitled to withhold a policy until such premium is paid.