Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
For any life insurance policy, the coverage begins once the policy has been approved and you accept the offer by submitting the initial premium payment (and any outstanding requirements such as a policy delivery receipt and/or a good health statement).
If you submitted a signed temporary insurance agreement and sent it in with a check when you submitted the application, then only the latter would be necessary, if applicable - the policy would be in force as of the policy's stated effective date.
I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any further questions. Thanks very much.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A life insurance policy is a legal contract. The start date for the coverage is listed on the declaration page of the policy. Normally it is the date that the company approves the risk; however it could be a later date or an earlier date depending upon the underwriters. The reason for an earlier date is that some people want to “save age” by getting the policy issued a few days or weeks earlier.
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If you submitted a signed temporary insurance agreement and sent it in with a check when you submitted the application, then only the latter would be necessary, if applicable - the policy would be in force as of the policy's stated effective date.
I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any further questions. Thanks very much.