Most individual life insurance plans are in effect on the day they are approved. In some cases the effective date can be the date of the application or a future date.
If money is submitted with the application coverage usually goes into effect the date of the application once the application is approved.
In the case of group life insurance plans, coverage normally goes into effect the first day you are actively employed in your new job, or when a new plan is installed.
Life insurance formally goes into effect after the policy has been issued, the delivery requirements have been returned, and the first premium has been paid. If coverage has been "bound" (the first premium paid at the time of taking the application), temporary life insurance protection will be in effect until underwriting has been completed. And some No Exam policies are put into effect upon completion and approval of a digitally signed application, making delivery requirements unnecessary.
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If money is submitted with the application coverage usually goes into effect the date of the application once the application is approved.
In the case of group life insurance plans, coverage normally goes into effect the first day you are actively employed in your new job, or when a new plan is installed.