A conditional receipt generally provides coverage effective on the:

A conditional receipt is a document provided to applicants when they apply for life insurance coverage and submit their first premium payment. This receipt generally establishes the terms under which the insurance company is willing to provide coverage, pending the acceptance of the application.

When a conditional receipt specifies that coverage is effective on the application date “if insurable as applied for,” it means that the insurance company agrees to recognize the application date as the start of coverage, provided that the applicant meets the underwriting criteria established by the insurer. This is a crucial point because it gives applicants assurance that they may be protected during the underwriting period, which can be significant if something were to happen before their policy is formally issued.

This understanding emphasizes the difference between the various dates mentioned. The policy issue date typically refers to when the insurance company formally accepts the application and issues the policy, which may be after the conditional receipt is given. The delivery date is when the policy is delivered to the policyholder and becomes effective in a final sense after any additional requirements are met. The first premium due date, while important for maintaining coverage, does not necessarily establish an effective coverage period prior to policy issuance.

Thus, the correct answer is rooted in the concept of conditional coverage starting at the application date, contingent upon