Chris applied for life insurance and paid the first premium on Monday. She was given an insurability premium receipt which specified that coverage was effective on the date of the application or the date of the medical exam, whichever is later. She took the medical exam the following Thursday. She was found to be in perfect health. On which day was her coverage effective?

on Monday, when she completed the application and paid the first premium

on Thursday when she passed the medical exam

on Wednesday, two days after completing the application and paying the first premium

on Saturday, two days after passing the medical exam