Concept:In insurance, the document that fully represents the contract and states all terms, conditions, and exceptions is the policy.
Explanation:A proposal form is only an application submitted by the insured person.
A cover note is a temporary document issued before the main policy is ready.
An insurance certificate simply serves as proof that a policy exists.
The policy itself is the complete legal contract.
It contains the insured’s details, the subject matter, the risks covered, the premium payable, and every condition and exception attached to the agreement.
This is why the policy, not any of the other documents, embodies the conditions and exceptions of the contract.
Answer:C. The policy