What does Policy Year mean? Read on to discover the definition & meaning of the term Policy Year - to help you better understand the language used in insurance policies.
A policy year is the 12-month period between the anniversaries of a policy. Unlike a calendar year, which is January 1 to December 31, a policy year depends on its effective start date. Depending on a policy, it may last any number of policy years or just a certain period or number of months.
We hope the you have a better understanding of the meaning of Policy Year.