QuestionAugust 15, 2025

Multiple Choice Before a life policy is issued, which of these contract elements is necessary? A. A binding receipt B. A minimum amount of coverage C. A beneficiary's signature on an application D. A signed application by the prospect

Multiple Choice Before a life policy is issued, which of these contract elements is necessary? A. A binding receipt B. A minimum amount of coverage C. A beneficiary's signature on an application D. A signed application by the prospect
Multiple Choice Before a life policy is issued, which of these contract elements is necessary? A. A binding receipt B. A minimum amount of coverage C. A beneficiary's signature on an application D. A signed application by the prospect

Solution
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Answer

D. A signed application by the prospect Explanation 1. Identify the necessary contract element A life insurance policy requires a signed application by the prospect to be considered valid. This is a fundamental part of forming a contract, as it indicates the applicant's consent and agreement to the terms.

Explanation

1. Identify the necessary contract element<br /> A life insurance policy requires a signed application by the prospect to be considered valid. This is a fundamental part of forming a contract, as it indicates the applicant's consent and agreement to the terms.
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