South Carolina Life Insurance Practice Exam

What is generally NOT required from the insured at the time of policy delivery?

1. Receiving a copy of the policy

2. Paying the first premium

3. Providing medical information

4. Submitting a signed waiver of premium

The correct answer is: Providing medical information

At the time of policy delivery, the insured is typically required to fulfill certain obligations, such as receiving a copy of the policy and paying the first premium to activate coverage. However, providing medical information is generally not required at this stage. This is because the medical information is usually gathered during the application process when the applicant is assessed for underwriting purposes. By the time the policy is delivered, the insurer has already evaluated the applicant's health status and determined the insurability. Therefore, there is no need for the insured to provide additional medical information at the moment of delivery, making it unnecessary compared to the other requirements. The signed waiver of premium might also be required in certain circumstances if the policy includes specific conditions regarding premium payments.