DEFINITION OF POLICY DATE

The effective date of the life insurance policy as stated in the contracts. The life insurance company uses this date in measuring such items like age attained age, policy anniversaries, and suicide and contestability period. These dates also coincided with the monthly cost of insurance increases. The Policy Date may or may not be the same date as the original issue date of the policy. Most commonly, this occurs in order to save the previous age of the Insured so that premiums are calculated off a younger age. See: Issue Date, Date of Issue

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