Why is a signed good health statement requested upon policy delivery?

A signed good health statement is typically required when the initial premium was not submitted with the application for a life insurance policy. This statement serves as a declaration from the applicant affirming that their health status has not changed since the application was submitted. If the initial premium is not paid at the time of application, the insurer seeks this assurance to manage risk; they want to ensure that the applicant remains insurable at the time the policy is delivered.

If the applicant’s health has worsened since the application, this could impact the insurer’s willingness to provide coverage under the same terms. Therefore, the requirement for a signed good health statement helps safeguard the insurer against changes in risk that may have occurred during the interim period when the application is under consideration before the policy is officially active.

In contrast, if the initial premium had already been submitted, the insurer would typically have accepted the risk and may not require further confirmation of good health upon delivery.