The phrase "policy anniversary" refers to the specific date on which an insurance policy is renewed each year. It is like a birthday for the policy, marking the completion of another year of coverage. Full definition
Such changes are generally entertained by insurers on policy anniversary date. (securenow.in)
Watch outs Some plans allow riders to be added only at the inception of the policy while a few others may allow them to be added at policy anniversary. (tomorrowmakers.com)
This is a traditional participating endowment plan under which survival benefits payable every year from 5th policy anniversary till maturity and life insurance benefit. (coverfox.com)