What must an agent obtain if the premium is not paid at application submission for policy delivery?

When the premium is not paid at the time of application submission for policy delivery, the agent must obtain a statement of continued good health from the applicant. This statement serves as a confirmation that the applicant's health status has not changed since the time of applying for the insurance policy. This is crucial because the insurer bases its underwriting and risk assessment on the applicant's health status at the time of application.

If the applicant's health has deteriorated since the application was completed, the insurer may be at risk of insuring an individual whose risk profile has changed, which could lead to higher claims costs. Therefore, this statement ensures that the insurer has accurate and current information before proceeding with the policy issuance and receiving payment. It is a standard practice in life insurance to protect both the insurer and the applicant.