all of the following are consideration in an insurance policy except\na. the promise to pay covered…

all of the following are consideration in an insurance policy except\na. the promise to pay covered losses.\nb. the statements on the application.\nc. the premium paid at the time of application.\nd. the cash value in the policy.

all of the following are consideration in an insurance policy except\na. the promise to pay covered losses.\nb. the statements on the application.\nc. the premium paid at the time of application.\nd. the cash value in the policy.

Answer

Brief Explanations:

In an insurance policy, consideration includes the insurer's promise to pay covered losses, statements on the application which are part of the agreement - making process, and the premium paid at the time of application. Cash - value is a feature of some life - insurance policies that accumulates over time and is not a consideration at the inception of the policy.

Answer:

D. The cash value in the policy.