Before a life insurance policy is issued, which of these components of the contract is required?

In the context of issuing a life insurance policy, the applicant's signature on the application is a required component of the contract. This signature serves as an indication that the applicant has provided truthful and complete information regarding their health and lifestyle, and it acknowledges their understanding of the policy terms. The application is fundamentally a part of the contract between the insurer and the insured, as it outlines the information the insurer uses to evaluate risk and determine coverage.

While other components, such as payment of the first premium, medical exam results, and proof of insurability, may be necessary for underwriting and could be requirements for issuing a policy, the signed application itself is essential. Without the applicant's signature, there is no formal agreement or indication that the applicant has engaged willingly in seeking the life insurance coverage. Therefore, the signature is a foundational element that must be present before the policy can be issued.