In an insurance contract, what does the applicant's consideration consist of?

Why this is the answer

Consideration is the value each side gives. The applicant's consideration has two parts: the premium dollars paid and the representations made in the application about health, occupation, and other underwriting facts. The insurer's consideration is its promise to pay covered claims as described in the policy. A common student trap is naming only the premium — but the insurer underwrites the risk based on the application statements, so those statements are part of what the applicant gives in exchange for coverage. Per the Florida Agent's Health & Life Exam Content Outline §III.D.1.a.