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preeti
Meaning of 'risk date' of a policy of insurance???
Additional Details i have my insurance exam tomorrow....pls help!!!
Risk date is the date the policy begins coverage, also referred to as the "Effective Date". Commencement date is the same thing. Different Insurance Companies and Insurance Lines of Business use different terminology. Just keep in mind they both mean the date the coverage starts.
Good luck on your test!
Sue P
Hi there, the "risk date" is basically the first day the policy goes on cover with an insurance company. It is another name for the "inception" or "start" date of a policy and is the date on which a company begins to insure you for a certain risk. Good luck with the exam!!
De Deuce
This is the ACTUAL date (and time) that the policy is said to bind, or become active in covering a loss. There is also an END risk date which terminates the policy.
carolus
any day can be a risk day-I think it's the inrterpreation given by laws.( once you start paying the risk start rolling!)
www mittalji.com
Risk start after payment of premium.
Harry
it means the date from which the risk cover on your life starts. in other words, you can say the date of commencement of your policy.
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