In the Sonya scenario, on which date would coverage become effective?

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

In the Sonya scenario, on which date would coverage become effective?

Explanation:
Coverage becomes effective on the date the insurer receives the first premium (assuming underwriting doesn’t add a delay). In Sonya’s case, the first premium was paid on May 30, so that's the date coverage takes effect. Dates like May 1 or June 1 don’t fit because they don’t match the actual premium receipt date, and April 30 is earlier than when the premium was paid.

Coverage becomes effective on the date the insurer receives the first premium (assuming underwriting doesn’t add a delay). In Sonya’s case, the first premium was paid on May 30, so that's the date coverage takes effect. Dates like May 1 or June 1 don’t fit because they don’t match the actual premium receipt date, and April 30 is earlier than when the premium was paid.

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