Definitions for "Policy Year"
The year in which the insurance policy is effective.
The period from commencement to the 'anniversary' date twelve months later.
Unique to the insurance business, this is a means of cost accumulation in which the aggregate transactions of all policies becoming effective in a given year determine the financial performance of those policies. Policyholder, see Insured.
Keywords:  remain, force, period, time
The period of time that the policy is to remain in force.