What does Benefit Year mean? Read on to discover the definition & meaning of the term Benefit Year - to help you better understand the language used in insurance policies.
A benefit year is a period of one year in which an insurance policyholder can receive insurance benefits from an insurance policy. Benefit years are commonly used in health insurance and in unemployment insurance. For unemployment insurance, the benefit year typically begins on the date that the claim is filed.
We hope the you have a better understanding of the meaning of Benefit Year.