When Does Life Insurance Coverage Begin

Life insurance lawyers will see many reasons for denial of life insurance benefits.  Occasionally, one of the reasons is that the policy had not become effective at the time of death. Most policies state the “effective date” of coverage.  This date may be earlier than, or later than, the date the first premium is paid or the dates the policy is issued or delivered.  Often, a policy may have an effective date, an issue date, and a policy date, and may all be different, causing confusion or misunderstanding.  If the dates differ, disputes may arise over when the policy actually took effect or terminated.  The effective date can be important in setting the due date for subsequent premiums and thus the date of any lapse or failure to pay a premium. The 1980, Texas Supreme Court opinion styled, Life Insurance Company of the Southwest v. Overstreet illustrates how confusion can sometimes create problems for the beneficiary.  In Overstreet, a…

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