The first step in creating an insurance contract is
A)underwriting.
B)determining a premium.
C)completing an application.
D)issuing the policy.

Question

Quizplus · Accepted Answer

Completing an application is the first step in creating an insurance contract. This is where the potential policyholder provides information about themselves and the risk they want to insure. Underwriting and determining a premium come after the application is completed, and issuing the policy is the final step in the process.

The First Step in Creating an Insurance Contract Is