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12 February, 19:04

What type of consideration does the proposed insured offer to an insurance company?

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  1. 12 February, 20:36
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    the payment of the insurance premiums

    Explanation:

    Consideration in contract law refers to an exchange of something of value, e. g. I pay $5 in exchange for a hamburger.

    In insurance contracts, consideration provided by the insured refers to paying the insurance premium. Consideration provided by the insurance company is the promise to pay in case of a covered loss.
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