Completing the Application, Underwriting, Delivering Policies, Contract Law
Who must sign a life insurance application when an adult purchases insurance on their own life?
Answer and explanation
Answer: C. The application must be signed by the proposed insured/owner and the licensed writing agent.Source: IIPRC Application Standards — § 3.N. Signature Requirements
More completing the application, underwriting, delivering policies, contract law questions
- Under Texas replacement regulations (28 TAC Chapter 3), what document must a producer provide to an applicant at the time of taking an application for a replacement policy?
- Under the Gramm-Leach-Bliley Act (GLBA) Privacy Rule, when must an insurer provide an initial privacy notice to a customer?
- What does the applicant give as consideration in forming a life insurance contract?
- What does the term 'unilateral' mean in relation to a life insurance contract?
- What is the basic purpose of life insurance underwriting?
- What is the most direct underwriting consequence of leaving required application answers incomplete?
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