Aleatory describes a contract whose outcomes depend on uncertain events, a concept often used when explaining insurance.
The distinction that matters
The label does not establish that every uncertain event is insured or settle a contract’s legal validity.
What to check
- Read the insured event.
- Check obligations and exclusions.
- Identify applicable law.
Example to discuss
A policyholder uses the actual benefit trigger rather than the contract classification to assess cover.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.