Life · Chapter 7 · Receipts & Effective Date
Policy Effective Date
Definition
Premium paid with the app → effective as of the receipt/medical-exam date. No premium with the app → effective only at delivery + first premium + statement of continued good health.
Exam tip
The effective date of a life policy is NEVER the date the policy was issued. Classic trap.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms