With regard to delivery receipt requirements, which of the following is TRUE?

• A. The insurer must issue a receipt at policy delivery
• B. Upon policy delivery, a producer must get the policyholder's signed receipt acknowledging delivery
• C. A receipt is optional if delivered electronically
• D. The policyholder's signature is not required

Answer: (B)

Delivery receipts provide proof that the policy owner actually received the policy. The key rule is that the producer must obtain the policyholder’s signed receipt acknowledging delivery at the time of delivery. This signed acknowledgment confirms delivery and helps establish records for the policyholder’s rights (and can tie into the policy’s free-look period).

That’s why the statement about the producer needing the policyholder’s signed receipt is the correct one. It isn’t the insurer that must issue a separate delivery receipt, and the requirement isn’t waived for electronic delivery—the policyholder’s acknowledgment is still needed. Finally, the policyholder’s signature is indeed required to confirm receipt, so claiming it isn’t would be incorrect.