Question

A 12 month insurance policy was purchased. What is the duration of the policy?

1) 6 months
2) 12 months
3) 18 months
4) 24 months

Answer 1

A 12 month insurance policy has a duration of 12 months. It starts on the purchase date and covers a full year.

Step-by-step explanation:

The duration of a 12 month insurance policy is exactly 12 months.

When a person purchases insurance, they are entering into an agreement with the insurance company that lasts for the period specified in the policy.

Therefore, with a 12 month insurance policy, the coverage will begin from the date of purchase and will last for a full year, covering the insured for various potential risks according to the terms of the policy.