Expiration

The date upon which a Policy will cease to cover unless-previously continued or renewed by an additional premium or unless previously cancelled.
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The termination date listed in a contract.
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The termination date of an insurance contract.
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REINSURANCE: This is cessation of cover if not renewed following the anniversary date. A treaty written on a “continuous until cancelled” basis does not expire automatically. This would need to be looked at for a cancellation provision.

Expiration card

A method of noting the expiration date of a policy. The agent or salesperson may use this to remind him or herself of which policies will be up for renewal soon.
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A way of recording the date on which a policy terminates. It is used to remind the agent or sales representative of a policy coming up for renewal.