Insurance Policy Expiration Date. It’s a whole different thing with a whole life policy. What your car insurance company says is indeed true.
If the insured person passes away before the policy matures, then death benefits are paid to the policy’s beneficiaries. The effective date is the day a life insurance policy is considered to be active, or “in force. if your policy lists january 1, 2022, as the effective date it means that if you pass away on or after that date, your insurer will pay the death benefit. Keeping up with your insurance is important for drivers to avoid tickets and to remain covered in case of accidents.