An insured submits the full premium along with a completed application, and the policy is issued 10 days later. When does the coverage begin?

Coverage typically begins on the date of application when the insured submits the full premium along with the completed application. This is a common practice in life insurance policies, indicating that the insurer accepts the application and premium as a binding agreement for coverage.

When the insured provides the full premium along with the application, this demonstrates the intent to purchase coverage, and it confirms acceptance by the insurer, as long as there are no outstanding judgments regarding the applicant's insurability. The actual issuance of the policy, which occurs later, formalizes this agreement, but coverage is effective from the moment the application is accepted and the premium is paid.

The other possible initiation dates, such as the date of policy delivery or the date of a medical examination, do not apply in this scenario since the premium payment signifies that coverage is already in effect from the application date. Additionally, the notion of a waiting period does not align with the practice of immediately activating coverage once the premium is submitted and the application is completed.