In a unilateral contract, who makes the legally enforceable promises?

In a unilateral contract, only one party makes a legally enforceable promise, which in the context of an insurance contract is the insurance company. The insurance company promises to pay a death benefit or other benefits outlined in the policy, provided the terms of the contract are met (such as the payment of premiums).

On the other hand, the policyholder (or insured) does not make a legally enforceable promise; instead, they provide consideration (in the form of premium payments) in exchange for the insurer’s promise. Although the insured must fulfill certain obligations, such as paying premiums, their commitments are not enforceable in the same way that the insurer's promises are.

Therefore, the correct answer highlights the nature of the unilateral contract wherein the insurance company's promise is the central legally binding element, leading to an enforceable agreement under specified conditions.