This is the term during which your policy is in force. With a term life insurance policy, for example, the policy period has a starting and ending date, such as from midnight on September 12, 2000 to midnight on September 11, 2010. Many term policies can be renewed prior to expiration by paying the renewal premium. Also sometimes called "policy term."
The period of time which commences with the policy effective date specified on the Declarations Page and expires upon cancellation, renewal or non-renewal of the policy. The policy period is never more than 365 days except for 366 days in a leap year.
When the coverages of an insurance policy apply. This is usually shown as an effective date and an expiration date. It may also be called the policy term. The policy period for most mobile home policies is one year.