An insurance policy becomes effective after the person accepts the policy and signs the contract.

Name: An insurance policy becomes effective after the person accepts the policy and signs the contract.
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Question

Quizplus · Accepted Answer

An insurance policy typically becomes effective after the insurer approves the application, the first premium is paid, and the policy is issued, not merely when the person accepts and signs the contract.

An Insurance Policy Becomes Effective After the Person Accepts the Policy