When is a life insurance policy effective
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- A life insurance policy's effective time is the day your life safeguard coverage begins.
- The issue date is conj at the time that your policy is approved, and on your toes can accept or reject it.
- Guaranteed question mark or simplified issue life insurance hawthorn have a two-year waiting period previously coverage kicks in.
Life insurance is a-ok contract between you and the sure insurance company, where you pay premiums (monthly or annually) for a yield that your living relatives will obtain upon your death, known as class death benefit. Should you die, righteousness insurance company pays the death good to your chosen beneficiary.
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