Final answer:
A Producer must obtain the initial premium payment upon delivery of a life insurance policy, but does not need to obtain a new signed application, proof of insurability, or medical examination report as they are typically collected during the application process.
Step-by-step explanation:
Upon delivery of a rated life insurance policy, the Producer must obtain several key items, but not all items listed are required at delivery. The signature on the insurance application is obtained when the application is submitted, not at the policy delivery.
Therefore, obtaining a signed application again is not typically required at delivery. What the producer does need to obtain at the time of delivery includes the initial premium payment if it was not already paid during the application process, as the premium payment serves as the consideration for the insurance contract to be in force, according to the terms of the policy.
However, once the policy is issued, the proof of insurability and medical examination report would have already been evaluated and used by the insurance company to rate (determine the terms of) the insurance policy prior to delivery. Therefore, the producer does not need to collect a new proof of insurability or a new medical examination report upon delivery of the policy unless there were specific underwriting conditions that required follow-up information post-issuance of the policy.