Calendar year

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A calendar year starts on 1st January and ends on 31st December of the same year.

Another term that insurance companies use is “insurance year.” An insurance year starts when you conclude the contract and ends after 12 months.

Example: Suppose you took a policy on 12th December 2023. In this case,

  • Your first calendar year will be finished on 1st January 2024 (in 19 days).
  • Your first insurance year will end on 11th December 2024 (in 365 days).
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