What determines the effective date of an insurance policy?

The effective date of an insurance policy is determined by multiple factors, which include the delivery of the policy to the applicant, the payment of the first premium, and a statement of continued good health.

When an insurance policy is issued, its coverage typically does not begin until certain conditions are met. First, the delivery of the policy to the applicant acts as a formal acceptance of the policy terms. Even if the insurance company has approved the application, the actual policy must be physically delivered for the coverage to commence.

Second, the payment of the first premium is crucial, as it confirms the policyholder's intention to keep the policy active. Without this payment, the insurer has no revenue to support the coverage, hence the policy remains inactive.

Third, a statement of continued good health is often required if there has been a significant delay between the application and the policy issuance. This statement ensures that the applicant's health status is still acceptable to the insurer, thus maintaining the validity of the coverage initially determined based on the application.

All these elements work together to define when the coverage officially begins, making "all of the above" the correct answer. Each condition must be fulfilled to establish the effective date and ensure the policyholder is adequately covered.