Date Of Issue

What Does Date Of Issue Mean?

In the context of insurance, the date of issue refers to the actual date when the insurance company issues the policy.

This may also be referred to as the issue date.

Insuranceopedia Explains Date Of Issue

The date of issue may be the same as the policy date, or the date listed on the policy, but it is not necessarily the same as the effective date, which indicates when the policy comes into force. Policyholders should carefully review their policy to understand when their coverage begins and what dates apply to the contract’s terms. This is especially important for determining liability in future claims.

For example, imagine a life insurance policyholder who commits suicide just over two years after the date of issue, and the beneficiary files a claim for the death benefit. However, the insurer denies the claim because the suicide occurred within two years of the effective date, voiding the insurer’s liability under the suicide clause.