2.3.2.1. Date attributes on a policy

The question which date attribute is correct, depends on the context. This paragraph gives a description of the different date attributes in the following situations:

• Start/change of a contract
• Expiration/renewal of a contract
  

Start/change of a contract

In SIVI AFS various date attributes are used for to define start dates or change dates. Particularly the following dates need some extra clarification:

• effectiveDate (INGDAT in AFD 1.0): Date on which the data of this entity will take/took effect. (NL: Datum waarop de gegevens van deze entiteit van kracht worden/zijn geworden.)
• effectiveChangeDate (INGDATW in AFD 1.0): Effect date of the change itself. Not intended as registration date of the change on the contract/by the carrier. (NL: Datum waarop de wijziging ingaat/is ingegaan. Niet bedoeld voor de datum waarop de wijziging door de maatschappij is geregistreerd/is aangetekend op het contract.)
• initialEffectiveDate (INGDATO in AFD 1.0): Original effective date. (NL: Oorspronkelijke ingangsdatum)
  

effectiveDate
The attribute effectiveDate is the original start date of the contract, This date does not change during the duration of a contract

effectiveChangeDate
The effectiveChangeDate is the date the changes to that contract start effectively. This is not necessarily the same date as the date the changes are registered.

initialEffectiveDate
The attribute initialEffectiveDate is hardly used. For example, in case of a transition of an insurance portfolio from one intermediary to another, this attribute might be used.

Expiration/renewal of a contract

In SIVI AFS various date attributes are used to define the end or renewal of a contract:

• expiryDate (EXPDAT in AFD 1.0): Date on which the contract is terminated or tacitly extended (contract expiry date or expiration date). Upon renewal, the new expiration date will be included. (NL: Datum waarop het contract beëindigd of stilzwijgend verlengd wordt (contractvervaldatum of expiratiedatum). Bij verlenging wordt de nieuwe vervaldatum opgenomen.)
  • In case of a short-term contract (policy), it is recommended to enter an expiryDate, but it is not required.
  • If coverages under a contract (policy) are terminated before the next renewal date, it is recommended to enter the expiry date of that coverage.
• renewalDate (HVVDAT in AFD 1.0): The upcoming renewal date (‘contract anniversary’). (NL: ‘Verjaardag van het contract’. Hier wordt de volgende (eerstkomende) hoofdvervaldatum opgenomen.)
  • It is recommended to enter a renewal date, unless the contract is a short-term or fixed-term contract.