Which term states the date the contract was received and requires the insured's signature?

Which term states the date the contract was received and requires the insured's signature?

• A. Mode
• B. Accumulate
• C. Cash On Delivery
• D. Delivery Receipt

Answer: (D)

Delivery receipts document when a policy is handed to the insured and capture the date of delivery along with the insured’s signature. This makes it the official record that the contract was received and that the insured acknowledged it by signing. The other options relate to payment timing (mode), growth of cash value (accumulate), or a shipping/payment term not used to confirm policy delivery (cash on delivery). So the delivery receipt is the term that records the delivery date and requires the insured’s signature.

Delivery receipts document when a policy is handed to the insured and capture the date of delivery along with the insured’s signature. This makes it the official record that the contract was received and that the insured acknowledged it by signing. The other options relate to payment timing (mode), growth of cash value (accumulate), or a shipping/payment term not used to confirm policy delivery (cash on delivery). So the delivery receipt is the term that records the delivery date and requires the insured’s signature.