If a life insurance applicant pays a premium but dies before the physical exam, there is obviously no coverage.

Question

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If an applicant pays a premium but dies before the physical exam, there may still be coverage under the terms of a "conditional receipt" or "interim life insurance agreement" provided by some insurance companies. This coverage is typically limited and may not apply in all cases, but it can offer some protection for the applicant's beneficiaries.

If a Life Insurance Applicant Pays a Premium but Dies