The written instrument in which a contract of insurance is set forth is the policy and it shall contain the information required herein: (a) The parties between whom the contract is made; (b) A description of the property, life or interest insured; (c) The interest of the insured; (d) The risk insured against; (e) The period during which such insurance is to continue;
(f) Either the statement of the Premium or if the insurance is of a character where the exact premium is only determinable upon the termination of the contract, a statement of the basis and rates upon which the final premium is to be determined and paid. Such premium shall exclude as a basis, the appraised value of the land. SOURCE: GC § 43350. Subsection (f) amended by P.L. 24-144:2.