Definition - What does Expiration Notice mean?
An expiration notice is a written statement sent to an insurance policyholder to inform them that their policy is about to expire. It helps ensure the policyholder is not caught unaware if they forget their coverage is about to end.
Insuranceopedia explains Expiration Notice
Unless the policyholder elects to renew or extend coverage, their insurance contract will end on the expiration date. For this reason, an expiration notice often serves as reminder to renew or shop for a new policy.
It is important to note that an expired policy and a canceled policy are not the same. The latter entails coverage ending before the expiration date. An expired policy is simply one whose coverage period is over.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.