In plain English
It means the policy is altered while it is still running, rather than waiting until the next renewal. The change happens within the current cover period.
In context
In that confirmation message, “mid-term adjustment” names the submitted change to the insurance policy made during its current period of cover before renewal.
- Situation
- Renewing, changing, cancelling, and retrieving policy documents
- What it communicates
- names the submitted change in a confirmation message
Meaning limits
The term itself does not identify what specific part of the policy was changed.
Examples
“After she moved house in March, the insurer processed the address update as a mid-term adjustment rather than waiting until renewal.”
“We have received your mid-term adjustment and will add it to your policy record.”