Final answer:
The entire contract provision refers to the policy and application being attached to the policy when issued, forming the entire agreement. It is commonly found in insurance contracts to ensure transparency and avoid misunderstandings.
Step-by-step explanation:
The provision that the policy and a copy of an application is endorsed upon or attached to the policy when issued is known as the entire contract provision. It means that the policy, along with the attached documents, constitutes the entire agreement between the parties involved.
This provision is commonly found in insurance contracts. It ensures that the policyholder is aware of all the terms and conditions of the contract, as everything is included in the policy itself.
For example, if an insurance policy includes a provision about coverage for natural disasters, it should be explicitly stated in the policy itself to ensure transparency and avoid any misunderstandings.