Effective date

{
  "id": "MLC-T-INS-001260",
  "term": "Effective date",
  "field": "Insurance and risk management",
  "definition": "The specific date on which an insurance policy or a change to an existing policy officially begins to provide coverage or take legal effect. From this date forward, the insurer is bound by the terms and conditions of the policy, and the insured is covered for losses that occur. The effective date is distinct from the issue date, which is when the policy document is prepared.",
  "url": "https://mlchart.com/terminology/insurance/effective-date/"
}