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Elaine signs an application for a $50,000 nonmedical life policy, pays the first premium, and receives a conditional insurability receipt. If Elaine were killed in an auto accident two days later?
A) the premium would be returned to Elaine’s family because the policy had not been issued.
B) the company could reject the death claim because the underwriting process was never completed.
C) her beneficiary would receive $50,000, if Elaine qualified for the policy as applied for.
D) the company could reject the application on the basis that death was accidental.
Answer: C) her beneficiary would receive $50,000, if Elaine qualified for the policy as applied for.
The above question Elaine signs an application for a $50,000 nonmedical life policy, pays the first premium, and receives a conditional insurability receipt. If Elaine were killed in an auto accident two days later?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
