McLean v. Life of Virginia

PARKER, Judge.

The “Advanced Payment Receipt” given by the insurance company in this case provides that the insurance shall take effect on the date the application is completed only if, among other things, the defendant insurance company determines to its satisfaction that on that date the proposed insured is insurable “at the premium rate applied for, in accordance with the Company’s rules, limits and standards for the policy applied for. ...” The receipt further expressly provides that “[i]f the insurance applied for is not effective under the exact conditions specified in this receipt, the…