Hey Phil , 

It is working now . I have updated the policy exception workflow to set the required status of policy exception record ( closed for my case ) when valid to date is reached . 

I have one more question . Can i set the status of related issue from policy exception workflow . 

So when policy exception valid to date is reached , apart from setting the status of policy exception to closed , i also want to set the status to related issue record to Analyze . 

Can i do this from the Policy exception workflow , since this is the only workflow triggered when valid to date is reached . 

thanks again for helping me Phil , you are a legend mate

Regards 

Gary