What does Effective Date mean? Read on to discover the definition & meaning of the term Effective Date - to help you better understand the language used in insurance policies.
An effective date, in the context of insurance, is the specific date that an insurance policy goes into effect. Effective dates let each party involved knows when their responsibilities or benefits kick in, as insurance coverage does not necessarily begin upon application approval or policy purchase.
We hope the you have a better understanding of the meaning of Effective Date.