Annual Insurance Policy

Definition of "Annual insurance policy"

Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company or the insured. The policy need not be paid for on an annual basis.

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What is an annuity? I need Hospital Insurance in addition to my current health insurance policy? What if the computer I want to insure is homemade or custom-built? What should I do if I'm in an accident? Why should I use a real estate agent?