MLchartDataset catalogue

Policy year

Term · Insurance and risk management · MLC-T-INS-002594

The twelve-month period during which an insurance policy is in effect, starting from its inception date or renewal date. This period defines the timeframe for which premiums are paid and claims can be made under the policy's terms. For policies with a fixed term, the policy year aligns with the contract duration, while continuous policies renew annually.

Table 1. Record
IdentifierMLC-T-INS-002594
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002594",
  "term": "Policy year",
  "field": "Insurance and risk management",
  "definition": "The twelve-month period during which an insurance policy is in effect, starting from its inception date or renewal date. This period defines the timeframe for which premiums are paid and claims can be made under the policy's terms. For policies with a fixed term, the policy year aligns with the contract duration, while continuous policies renew annually.",
  "url": "https://mlchart.com/terminology/insurance/policy-year/"
}

Record 2,628 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.