What does Evergreen mean?

It is a stipulation which can be found in a contract and which refers to the fact that unless otherwise requested, the contract renews itself. Although it has a perpetual aspect, at certain period of times, the policy or the contract holder must give his/her consent to the continuation of the contract, and this is undertaken as a safety measure.

Evergreen explained

Up until cancellation of the contract is requested by the contract holder, the contract renews itself and shifts activity from period to the other. For example, a one year long evergreen contract which has mentioned a monthly renewal period gives the possibility to the contract holder to either give consent for the continuation, or rolling over of the contract, or to call for its cancellation. If, after the first month there is no cancellation request, that means that the contract continues being active for the year long period. Whenever cancellation is requested, the contract will cease being active, but not before finishing the year long period.