What is the difference between inception date and effective date?

Date of issue in insurance refers to the actual date your policy was created (note: this isn’t when your insurance kicks in and becomes active, that’s the effective date).

On your insurance policy, you’ll probably notice there are a bunch of different dates, including date of issue, effective date, expiration date, and sometimes even a policy date. Yikes.

The most important one to know is your insurance policy’s effective date, which is the date your policy is activated.

Date of issue simply refers to the date your insurer created the contract (your insurance policy), which isn’t necessarily when your coverage starts.

Let’s say you’re moving into a new apartment on June 30th, and want to get HO4 insurance for your new address.

On May 30th, you contact your insurer (or, in some cases, update your new address through your insurer’s app), and let them know when you’ll be moving in.

When your insurer sends over your new policy, the date of issue will reflect the day your policy was created (May 30th), whereas the effective date will be your move-in date and hence the start of your coverage (June 30th).

Date of issue also comes into play when you’re buying a home. Mortgage lenders often require proof you have insurance before accepting your request for a loan.

But you can’t have insurance on something you don’t yet own.

That’s why insurance companies make it possible to issue a policy on one date, and have it go active at a later point in time.

Side note: It’s always a good idea to get a new policy in advance of moving into your new apartment.

As we all know, moving is a pain, and things like insurance can often get lost in the shuffle. You’ll enjoy some peace of mind knowing you’re protected from the minute you open the door, and you’ll have one less thing to deal with once the unpacking begins.

The date of issue and all other important dates relevant to your coverage can be found on the declarations page of your insurance policy.

Pro tip: While you’re there, take a look at your personal info and make sure everything is correct! A common mistake we often see is typos when entering home addresses.

• Inception Date means in respect of a Fund, the first date on which the Fund issued shares.

• Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

• Policy Date means the date on which the Search Report was prepared.

• Retention Date has the meaning set forth in Section 8.01 of this Agreement.

• Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2, September 1, 2011; as to the LONG TERM REDUCING REVOLVING NOTE, May 1, 2013; as to the REVOLVING NOTE, May 12, 2011 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of all OBLIGATIONS.

• Lease Termination Date means the last day of the Lease Term.

• Policy Period means the period between the inception date and the expiry date as specified in the Schedule to this Policy or the cancellation of this insurance, whichever is earlier.

• Allowance Date means the date on which a Claim becomes an Allowed Claim.

• Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

• Origination Date means, with respect to each Mortgage Loan, the date of the Mortgage Note relating to such Mortgage Loan, unless such information is not provided by the Borrower with respect to such Mortgage Loan, in which case the Origination Date shall be deemed to be the date that is 40 days prior to the date of the first payment under the Mortgage Note relating to such Mortgage Loan.

• Accretion Termination Date As defined in the Series Supplement.

• Policy Commencement Date means the date of commencement of the Policy as specified in the Schedule.

• Accrual Termination Date Not applicable.

• Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.

• Transition Date means, with respect to any Covered Employee, the date Acquiror commences providing benefits to such employee with respect to each New Plan.

• Policy Effective Date means the commencement date of these Terms and Benefits which is specified as "Policy Effective Date" in the Policy Schedule.

• Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

• Effective Date of Coverage means the first day of the month for which the HMO has received payment for a Member.

• Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

• Formation Date has the meaning set forth in the Recitals.

• Policy Anniversary means the annual anniversary of the Date of Commencement of Risk;

• Continuation Date means any date on which Borrower continues a LIBOR Advance into another Interest Period.

• EBO Date Means the date set forth on Schedule 1 to the Lease as the "EBO Date".

• Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

• Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

• Initial Termination Date has the meaning set forth in Section 8.2(a).

Policy Inception Date and has received Premium will be liable for the claim.","Policy Period means the period between the Policy Inception Date and the Policy Termination Date.","The Insured Member’s cover starts from the Policy Inception Date stated in the Policy Schedule.","Losses based upon or arising out of the same Wrongful Act or Related Wrongful Acts of one or more of the Insureds shall be considered a single Loss incurred as a result of a single Claim, which Claim shall be deemed to have been made on the date the first Claim for such Wrongful Act or for one or more of such Related Wrongful Acts is made against any of the Insureds, whether such date is before or after the Policy Inception Date.","Policy Inception Date means the date stated in Item 2(a) of the Declarations.","The cover granted to an Insured Member pursuant to this Policy shall commence from the Policy Inception Date as specified in the Policy Schedule, and up to such time of expiry of this Policy or where such cover is terminated, whichever is earlier.","A waiting period of 3 years from the Policy Inception Date shall be applicable for this Section.","A waiting period of 3 years from the Policy Inception Date shall be applicable to this section.","The Insured’s cover starts from the Policy Inception Date stated in the Policy Schedule.","The cover granted to an Insured pursuant is from the Policy Inception Date as specified in the Schedule."],"id":"policy-inception-date","title":"Policy Inception Date"},"groups":[{"snippetLinks":[{"key":"the-date","type":"definition","offset":[6,14]},{"key":"the-schedule","type":"clause","offset":[25,37]},{"key":"policyholder","type":"clause","offset":[51,63]},{"key":"this-policy","type":"definition","offset":[82,93]}],"samples":[{"uri":"https://16334.starrinsurance.com.hk/static/products/pdf/hkci_home_wording.pdf","label":"16334.starrinsurance.com.hk","score":5}],"snippet":"means the date stated in the Schedule at which the Policyholder first enters into this Policy.","size":1,"hash":"ff56cebde79206cf62fb592c8964b0c2","id":1}],"nextCurs":""}} id=pagination-first-page>