Question

What is the consideration in an insurance contract?

a.

The insurer's willingness to provide coverage

b.

The premium paid by the insured

c.

The specified risks covered by the policy

d.

The enforceability of the contract

Answer: (b).The premium paid by the insured Explanation:The consideration in an insurance contract is the premium paid by the insured.

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Q. What is the consideration in an insurance contract?

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