Final answer:
The application is considered part of the life insurance contract under the Entire Contract provision. This provision includes all agreements and personal details provided by the policyholder in the application.
Step-by-step explanation:
The provision in a life insurance policy that states that the application is considered part of the contract is the Entire Contract provision. This provision ensures that all agreements and terms between the insurer and the insured are encapsulated within the policy document, which includes the application for insurance. The application often contains important personal statements and details provided by the policyholder that are used to determine the policy's terms and premiums.