Connecticut Life Producer Practice exam

Who is required to sign a life insurance application?

1. Only the proposed insured

2. Only the insurance agent

3. Both the agent and the proposed insured

4. Only individuals over the age of 18

The correct answer is: Both the agent and the proposed insured

The requirement for both the agent and the proposed insured to sign a life insurance application is rooted in the need for transparency and mutual agreement on the terms of the policy being applied for. The proposed insured signs to provide correct personal information and to indicate their understanding and acceptance of the policy they are applying for. This includes agreeing to the terms and conditions and acknowledging the implications of the insurance coverage. The insurance agent also signs the application, which serves several purposes. It verifies that the agent has accurately represented the policy details to the applicant, confirms that they have followed required procedures, and provides evidence that the agent is in compliance with insurance regulations. This dual-signature requirement helps ensure that both parties are on the same page regarding the application process and helps protect all parties involved in the transaction. In the context of the other options, only the proposed insured's signature would not adequately demonstrate that all necessary disclosures and representations were made. If only the agent were to sign, it would neglect the consent and personal information provided by the applicant. Requiring signatures only from individuals over the age of 18 does not account for situations where individuals under that age may be part of a family plan or other pertinent arrangements. Thus, the correct understanding of the necessary signatures underscores the importance