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Simple English definitions for legal terms

policy year

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A quick definition of policy year:

Policy year: The policy year is the time period that starts when an insurance policy becomes active. It is usually a year long and is important for keeping track of when the policy needs to be renewed. Think of it like a birthday for your insurance policy!

A more thorough explanation:

Definition: A policy year is the period of time that begins on the date when an insurance policy becomes effective. It is usually a 12-month period, and it is used to determine when the policy will renew and when any changes to the policy will take effect.

Example: If you purchase a car insurance policy on January 1st, 2021, your policy year will run from January 1st, 2021 to December 31st, 2021. On January 1st, 2022, your policy will renew for another year, and any changes to your policy will take effect on that date.

Explanation: The example illustrates how a policy year works in the context of car insurance. The policy year begins on the date the policy becomes effective, which is January 1st, 2021 in this case. The policy will remain in effect for the entire year, and any changes to the policy will take effect on the anniversary date, which is January 1st, 2022. This is a simple explanation that a high school student can understand.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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