An insurance application requires an applicant to make a full, accurate disclosure of the risk factor involved. Using this criteria, an insurance policy is considered what type of contract?

An insurance application requires an applicant to make a full, accurate disclosure of the risk factor involved. Using this criteria, an insurance policy is considered what type of contract?



A. Aleatory contract

B. Estoppel contract

C. Contract of utmost good faith

D. Unilateral contract



Answer: C. Contract of utmost good faith

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