Which of the following is NOT a part of policy structure?

The correct choice is premium calculation, as it is not a structural component of an insurance policy itself. In insurance terminology, policy structure typically includes elements that define the scope of coverage and specific terms of the insurance agreement.

Definitions provide clarity on terms used throughout the policy, ensuring all parties have a common understanding. The insuring agreement outlines the coverage provided and the obligations of the insurer, serving as the core of the insurance contract. Exclusions specify what is not covered by the policy, limiting the insurer's liability.

Premium calculation, on the other hand, pertains to the financial aspect of the insurance policy rather than its structural components. It involves determining the amount of money the policyholder must pay for coverage but does not define the coverage itself or the interactions between the insured and the insurer outlined in the policy. Thus, while premium calculation is essential in the context of insurance policies, it does not form part of the policy's structural elements.