State RegulationsCA specific✓ Verified · outline & fact-checked · Sep 2026Difficulty 2/5
When a life insurance policy is delivered to the insured, the agent asks the insured to sign a delivery receipt. The primary purpose of this receipt is to:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under California Insurance Code Section 10113.6, a delivery receipt serves to confirm that the policy was actually delivered into the insured's hands and to document the date of delivery. The delivery date is significant because it typically marks the start of the free-look period, during which the insured may return the policy for a full refund of premium. The receipt also protects both parties by fixing the time the coverage documents changed hands.
Why the other options are wrong
- B) Signing a delivery receipt does not transfer ownership; the policyowner retains all contractual rights.
- C) The receipt is not a waiver of contestability; the two-year incontestability period runs from policy issue, not from the receipt.
- D) The receipt documents delivery, not the medical examination; evidence of insurability was already evaluated at underwriting.
Memory hook
Delivery receipt = proof you handed it over, and the clock that starts the free-look countdown.