When Is Life Insurance Coverage Effective? 
Permanent or term coverage as provided by the policy when issued is effective at that time . In many if not all cases , there is a `` free look '' period offered usualy for a period of 10 days in which time you may decide that you do not want the coverage . If returnmed to the company , any premium you had paid would be refunded to you . Many policies offer a `` temporaty Insurance provision '' which sates that once the application has been signed and the appropriate premium paid , the company grants that you are covered for a certain amount of benefit during the underwriting period . Check with your Insurance Professional aboiut how much tempoorary coverage you may be entitled to receive after submitting your application . 