When does the coverage for risk commence in a life insurance policy?
Surya Kumar, Patna
Normally, the coverage of risk commences from the date of acceptance of the policy or the date of receipt of the first premium in full, whichever is later. But if the acceptance of the proposal is conditional upon the proposer’s (that is the person whose life is insured) compliance with any requirements, then the risk under the policy will commence on the date on which all the requirements are satisfactorily complied with, after the receipt of the first premium in full. This means, even if you have made the payment for the first premium, the policy shall cover risk only after you have complied with the requirements to the satisfaction of the particular insurance company.
