Question 3 (4 points) An applicant for life insurance submits her application along with the first premium payment and receives a "conditional premium receipt." Before the insurer can review her application, the applicant is killed in an auto accident. In this situation, which of the following statements is (are) true? (Check all that apply.) the insurer has an obligation to consider the application even though the applicant died before it was received by the insurer the insurer will pay the death benefit only if the application meets the insurer's usual underwriting standards the insurer must approve the application and pay the death benefit no death benefit is paid under the policy since the applicant died before her application was reviewed and approved by the insurer