If no receipt is issued at the time of application, what is usually required at the time of policy delivery?

When a policy is delivered without a receipt being issued at the time of application, a statement of good health is commonly required. This statement serves a key purpose: it confirms that the applicant remains in good health and has not experienced any significant changes since the application was submitted. This is essential because the insurer wants to ensure that the risk it is assuming hasn't increased since the time of application.

If the applicant's health has changed negatively, it may affect the terms of the policy or even the eligibility for coverage. In essence, this requirement helps protect both the insurer's interests and the integrity of the coverage being provided.

The other options do not fit this scenario as neatly. A medical examination would typically be part of the underwriting process and is not usually required at the time of policy delivery itself. A signed waiver might be applicable in specific contexts but is not a standard requirement for policy delivery. An initial premium payment, while often necessary to activate coverage, does not directly address the need for confirming the applicant's current health status since it is typically requested upon application or delivery of the policy rather than being tied specifically to the absence of a receipt.