L&HFloridamedium
Which feature most clearly identifies an insurance policy as an aleatory contract?
AOnly one party has signed the contract
BThe insurer drafted the policy on a take-it-or-leave-it basis
The values exchanged by the parties are unequal and depend on a chance event
DThe insurer's duty to pay is conditional on receiving a claim
Why this is the answer
An aleatory contract is one in which the dollar values exchanged are unequal and depend on a chance event. The insured pays a small, fixed premium; the insurer pays a potentially very large benefit if the insured event occurs. If no covered event occurs, the insurer keeps the premium and pays nothing. This asymmetry is the defining feature. The other answer choices describe different but related characteristics: option A is closer to unilateral, option B to adhesion, and option D to conditional. All four coexist in every insurance policy. Per the Florida Agent's Health & Life Exam Content Outline §II.D.2.d.
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