Date of Issue

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Date of Issue It simply refers to the date your insurer created the contract (your insurance policy), which isn't necessarily when your coverage starts. Therefore your insurance policy can be issued days, weeks or even months before the commencement date (policy date) of the coverage. Essentially, the issue date indicates a contract has been created and sent to the parties involved, but it isn’t necessarily providing the benefits of coverage. Cancellation of a policy prior to the date of issue and prior to the commencement date is possible. You can cancel a policy prior to the effective date and get a full refund. Insurance companies can not charge you for coverage that you never actually had. To locating the date of issue on your policy document, the date of issue and the effective date are items found on the your declarations page. The declarations page is a one or two page summary of your policy including your bio data. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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