Delivery is the point at which the finalized policy is given to the policyholder and policy effectiveness can begin according to contract terms.
Operational importance
Modern delivery can be digital or physical, but either way the policy effective date and evidencing documents must be clear.
Common delivery triggers include:
- signature completion,
- full disclosure completion,
- and confirmation that the policyholder received all required terms.
Claims and legal effect
Delivery date is used to determine if a claim is within coverage period and whether the insured had adequate notice of exclusions and waiting periods.