State RegulationsPA specificDifficulty 1/5
When a producer personally delivers a life insurance policy to the policyowner in Pennsylvania, what must the producer obtain under 40 P.S. § 625.4?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
40 P.S. § 625.4 conditions the delivery of a life policy on the producer obtaining a signed receipt showing when and to whom the policy was delivered. The delivery receipt fixes the moment of delivery, which starts the policyowner's right to examine the policy and confirms that the insurer's obligations have been placed in the owner's hands. Producers who skip the receipt leave the delivery date — and therefore the free-look and effective-date questions — unprovable.
Why the other options are wrong
- A) No new medical examination is part of delivery; the underwriting evidence was completed before issue.
- B) Delivery proceeds with premium payment as required; a refund at delivery contradicts the very act of putting the policy in force.
- C) The right to examine the policy belongs to the policyowner and is not waived by a delivery form; the receipt documents delivery, not a waiver.
Memory hook
Policy in hand? Paper in hand too — the signed delivery receipt anchors the date.