What does it mean effective date of coverage?
Answer: The coverage date reflects the date your coverage level changed; for example, the date you went from individual to family coverage. The plan effective date is the date your enrollment in that benefit plan went into effect.
How do you calculate effective date of coverage?
You can typically find your effective date on the declarations page in your policy – it's usually located on the first or second page. Pro tip: While you're at it, be sure to take note of the expiration date as well (to the right of policy start date in the above image).
What is the effective date of a life insurance policy?
A retroactive date defines how far back in time a loss can occur for your policy to cover your claim. If a claim happens prior to your retroactive date, your policy won't provide benefits. It's a feature of claims-made professional liability or errors and omissions insurance.