not against public interest
at the time of the application. Minors,legally insane, or intoxicated are NOT competent.
Required BOTH offer
- made when the applicant completes the application
made when insurance policy is issued
4.Consideration (aka Trade of Value)-
something of value BOTH parties must give.
- Insurer's = Promise
- Considerations made by the applicant for the insurance are: 1) truthful statements AND 2) Premium
***INCOMPLETE APPLICATION IS NO