When Does Life Insurance Coverage Start?

You have the choice of making an initial premium payment with your application for life insurance. If you do so, your life insurance begins on the date of signature on your application, assuming all questions on the application are answered completely.

However, your life insurance coverage is subject to the terms and conditions on the conditional receipt you receive in return for your deposit. If, for some reason, you don’t qualify for the life insurance or you decide not to accept the the life insurance policy, your deposit will be refunded to you.

Most life insurance companies have monthly, quarterly, semi-annual or annual premium payment options available.

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