What constitutes and offer in insurance?
I know if I submit an application to purchase insurance along with my first premium it is considered an “offer.”
What is it considered if I just submit the application?
insurance
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It is still considered an offer and the company then makes a counter-offer to either issue or decline the coverage. If you make a payment at that time, it is considered an acceptance of the offer.
If you make a payment at that time, it is considered an acceptance of the offer.
A request for a quote.