Life Insurance Basics
An insurer mails a policy to its producer for unconditional delivery to the owner. What is the significance of that?
Answer and explanation
Answer: A. Where the insurer sends the policy to its agent with instructions to deliver unconditionally, it has relinquished control and delivery may be treated as constructively complete. Physical handover and a receipt are evidence of delivery rather than the only means of it.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, constructive delivery
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