In most individual life policies, the application signed by the applicant is:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
The signed application is customarily attached to the policy and becomes part of the contract between the insurer and the policyowner. Statements in the application are representations, and because the application is part of the policy, any material misrepresentation found there can bear on contestability and on the payment of claims. The insured's copy of the delivered policy includes the application, so both parties share the same written record of the facts on which the insurer accepted the risk. Reading them together is essential to understanding the actual coverage.
Why the other options are wrong
- A) The application is submitted to the insurer for underwriting; it is not confidential to the agent and is central to the insurer's risk decision.
- B) The application and policy are read together as one contract; the application is not superseded wholesale by the policy.
- C) The application does not expire after 30 days; it remains part of the policy for the entire life of the contract.
Memory hook
The application rides along with the policy for the whole ride — it is part of the contract.