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Coverage Period

The coverage period is the span of time during which an insurance policy is active and the insured person is eligible to receive benefits. It begins on the policy’s effective date and ends on the contract expiry date or termination date, depending on whether the policy is renewed or canceled. During this time, the insurer is obligated to pay for eligible claims according to the terms of the plan, as long as premiums are paid and coverage remains in force.

Coverage periods can be annual, semi-annual, or monthly, depending on the policy type. In health and dental insurance, coverage is continuous as long as premiums are paid. In travel insurance, the coverage period is specific to the trip duration, starting on the departure date and ending on the return date or after a set number of insured days. Understanding your coverage period ensures you know when your benefits apply and helps prevent lapses in protection.

Example:

If your health insurance policy begins on January 1, 2025, and renews annually, your coverage period runs from January 1 to December 31, 2025. Claims for expenses incurred during this time are eligible for reimbursement under that policy year.

What to Watch For:

Always verify the start and end dates of your coverage period, especially when changing jobs, renewing a plan, or traveling. Claims incurred outside the active period will not be reimbursed. For travel policies, coverage typically begins when you leave your home province and ends on the earlier of your return date or the policy expiry.

Related Terms

Calendar Year

The calendar year defines a benefit period that runs from January 1 to December 31. Many annual maximums, deductibles, and claim resets follow this schedule. It provides a consistent framework across most insurers and simplifies tax reporting for medical expenses.

Certificate of Insurance

A certificate of insurance is an official document issued by an insurance company that summarizes the key details of your coverage. It serves as proof that you are insured and outlines the essential terms of your policy, including the type of coverage, effective dates, benefit limits, exclusions, and any dependents or beneficiaries listed under the plan.

Claim

A claim is a formal request you or your healthcare provider submit to your insurance company to receive reimbursement or direct payment for eligible medical or dental expenses covered under your plan. Submitting a claim provides the insurer with the necessary information - such as receipts, treatment details, and provider information - to verify the service and determine the amount payable according to your policy’s terms.

Claim Submission Deadline

The claim submission deadline is the final date by which an insured person must submit a claim to their insurance company for reimbursement of eligible expenses. After this date, the insurer is not obligated to pay the claim, even if the expense itself would have been covered. This deadline ensures timely processing, accurate recordkeeping, and proper financial reporting for both the insurer and the policyholder.

Claimant

A claimant is the person who submits a request for reimbursement or payment under an insurance policy. In health and dental insurance, the claimant is usually the insured individual who received the service, such as a medical treatment, prescription, or dental procedure. However, a claimant can also be a parent, spouse, or legal guardian submitting a claim on behalf of a covered dependent.

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