I Wish
I Knew

I Wish I Knew: When do insurance policies expire?

July 21, 2017 by Ellen Abramson

We all have lots of insurance policies. Some may include auto, medical, dental, vision, prescription, disability, accidental death, life, long term care, homeowners, flood, pet, jewelry just to name a few. All of these policies have expiration and renewal dates attached to them. Some may automatically renew while others need to be renewed on a set schedule.

If a life event happens and a loved one needs to take over short or long term they need to know when your policies expire and the method you use to pay and renew them. If you do not record and share this important information, policies and benefits may lapse and you may find your self without vital insurance coverage. A helpful suggestion is to make a list of your insurance policies and list the following information…

  • Policy Name and Description
  • Policy Number
  • Policy Owner
  • Insurance Company Name and Contact Information
  • Location of Policy
  • Beneficiaries
  • How Pay for Policy (check, online, auto renew)
  • How Renew Policy (check, online, auto renew)
  • Important Renewal Dates and Payment Schedule
  • Policy Cost

Sharing this critical information will ensure that your insurance policies remain active. That will give you and your family the peace of mind insurance you deserve.