Question

Life insurance applications require a signature from:

a. The agent
b. The insured
c. The policyowner
d. All of the above

Answer 1

Life insurance applications require signatures from the agent, the insured, and the policyowner. The correct answer is d. All of the above, as each party needs to confirm their agreement to the policy terms.

Step-by-step explanation:

When it comes to life insurance applications, signatures are usually required from multiple parties to ensure the legal validity and mutual agreement on the policy terms. The individuals who generally need to sign the application are:

1. The agent - representing the insurance company and verifying the policy is correctly sold.
2. The insured - the person whose life is covered by the insurance policy, confirming accuracy and consent.
3. The policyowner - the individual who holds the ownership rights to the policy, which could be the insured or someone else, also to confirm agreement to the terms.

Therefore, the correct answer to the question is d. All of the above. This ensures that everyone involved is appropriately informed and has consented to the insurance contract.