Cover duration

Cover Duration is one of the criteria to select a suitable risk cover

The "cover duration" determines the period of time during which the buyer is protected against risk events. Generally, covers are bought for the duration of one month to a year and the price increases as the duration increases.

The "cover duration" is part of the BRIGHT Rating because it impacts the user in three important ways:

Risk products where the cover duration is more transparent to the user help create trust in the product
Risk products where the cover duration can be set more flexible offer the user more convenience
Risk products can use a price curve making the product relatively more/less expensive based on the cover period (e.g. the first 7 days of the cover might be more expesive than the last 7 days of the cover)

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Last updated 2 years ago