What does Annual Insurance Policy mean? Read on to discover the definition & meaning of the term Annual Insurance Policy - to help you better understand the language used in insurance policies.
Annual Insurance Policy
An annual insurance policy is a policy paid for by the year as opposed to by the month. Therefore, a policyholder who pays a yearly premium would receive one year of coverage. Annual insurance policies are offered for a wide variety of insurance products.
We hope the you have a better understanding of the meaning of Annual Insurance Policy.