Effective Date

Commencement of Coverage
The commencement of coverage is the date at which insurance protection begins, indicating the starting point for the validity of an insurance policy.
Date of Issue
The date when an insurance company formally issues a policy. This date can differ from the actual effective date of the insurance coverage.
Effective Date
The Effective Date refers to the specific date on which an agreement, policy, or offering formally goes into effect and becomes enforceable.

Accounting Terms Lexicon

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