1. Start of a benefit year for an insured subscriber group; date on which a policy was issued. 2. Date an employee begins a new year of employment. Also called anniversary or policy anniversary.
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The anniversary of the original date of issue of a policy as shown in the declarations.
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US: In policies with a term that exceeds 1 year, the anniversary of the policy inception date. For 1-year policies, this term can also be used to refer to the policy’s renewal date.