Contract Expiry Date

The contract expiry date is the final date on which an insurance policy or agreement remains in effect unless it is renewed or extended. It marks the end of the policy’s coverage period and defines when the insurer’s obligation to pay benefits or accept claims under the existing terms stops. After this date, the policyholder must renew the contract, convert it to a new plan, or allow it to lapse if coverage is no longer needed.

In health and dental insurance, the contract expiry date may apply to individual policies that are renewed annually or to group benefit plans that are reviewed by employers at the end of each contract term. For life and disability insurance, it can represent the maturity date of the policy or the point at which premium payments and benefits cease. This date helps both the policyholder and the insurer track when coverage must be reviewed, updated, or renegotiated.

Example:

If your annual multi-trip travel insurance policy began on June 1, 2024, with a one-year term, the contract expiry date would be May 31, 2025. You must renew the plan before that date to ensure continuous coverage.

What to Watch For:

Review your renewal notice well before the expiry date to confirm updated premiums, benefits, and terms. Missing a renewal deadline can result in a lapse of coverage, which may require reapplication or medical underwriting to reinstate. Some plans renew automatically, while others require active confirmation from the policyholder.

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