Final answer:
The application is part of the annuity contract according to the Insurance code, which dictates the including of the application in the annuity contract and serves as a guideline for its provisions.
Step-by-step explanation:
The application is an integral part of the annuity contract according to the Insurance code. An annuity contract is a legally binding agreement in the insurance landscape that stipulates the insurer's obligations and the terms under which the annuity will be provided to the annuitant. According to the insurance code, the application for an annuity becomes part of the entire contract between the annuitant and the insurance company.
State regulations, federal law, and the specific annuity terms do hold significant positions within the context of annuities, but it is the insurance code that most directly specifies the inclusion of the application as part of the annuity contract. The outlines provided by the insurance code serve as the guideline for various provisions including the application’s status in relation to the contract.