Coverage Period

The "Coverage Period" refers to the specific span of time during which an insurance policy is active and provides protection against the risks outlined in the policy. This period is clearly defined in the insurance contract, starting from the effective date, when the coverage begins, to the expiration date, when the coverage ends.

For life insurance, the coverage period could be for a set term, such as 10, 20, or 30 years in the case of term life insurance, or it could extend for the lifetime of the insured in the case of permanent life insurance. In health insurance, the coverage period often aligns with a calendar year or a policy year, after which the policy may be renewed, sometimes with changes to premiums or benefits.

Understanding the coverage period is essential for policyholders to ensure that they are protected during the times they expect to be and to make informed decisions about renewing or adjusting their coverage as needed.