Life License Qualification Program (LLQP) Practice Exam

Which individual is NOT required to sign a life insurance application?

1. Adult insured

2. Policyowner

3. Agent

4. Beneficiary

The correct answer is: Beneficiary

In the context of a life insurance application, the individual who is not required to sign the application is typically the beneficiary. This is because the beneficiary's role is to receive the policy benefits in the event of the insured's death, but they do not have a direct stake in the contractual agreement between the insurer and the policyowner. The adult insured and the policyowner are usually required to sign the application to confirm the correct information and agree to the terms of the policy. The agent's signature is needed to validate that they have provided accurate information and conducted the presentation according to regulatory standards. In contrast, the beneficiary's sole function pertains to receiving benefits and does not necessitate their signature on the application process.