What would happen if a life insurance applicant is given a conditional receipt from an insurance agent and then dies the next day?

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What would happen if a life insurance applicant is given a conditional receipt from an insurance agent and then dies the next day?

Options

a) Claim will be denied by insurer
b) Claim will be paid if money was received by the insurance company
c) Claim will be paid if underwriter has received the application
d) Claim will be paid if application is approved

Answer: d) Claim will be paid if application is approved

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