Completing the Application, Underwriting, Delivering Policies, Contract Law
If an applicant submits a completed application WITH the initial premium and receives a conditional receipt, when does coverage begin if the applicant is later found insurable as applied for?
Answer and explanation
Answer: C. A conditional receipt provides coverage effective as of the date of application or medical exam, provided the applicant was insurable as applied for.Source: IIPRC Application Standards — § 3.K. Conditional Receipt
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