which of the following elements of an insurance contract requires payment of premium?\na. legal purpose\nb…

Brief Explanations:

In an insurance contract, consideration is the element that involves the payment of a premium. Consideration is something of value given by each party to the contract. The insured pays the premium (consideration) and in return, the insurer provides coverage. The other options - legal purpose, offer and acceptance, and competent parties - are important elements of a contract but do not directly relate to the payment of the premium.

Answer:

D. Consideration