On Aug. 6, D submitted an application for a $50,000 Life insurance policy and did not pay the initial premium. On Aug. 18, D went to his doctor complaining of chest pains and some tests were given by the doctor. The life policy was delivered by the producer on Aug. 20 and D explains what had recently taken place with the doctor. What action should the producer then take? a - collect initial premiumb - collect initial premium along with a signed health statementc - explain to the applicant the policy is no longer in effect due to change in health conditiond - collect initial premium and leave a binding receipt
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