What must a producer collect along with the initial premium upon delivery of a life insurance policy?

When delivering a life insurance policy, a producer is required to collect the insured’s signed statement of continued good health along with the initial premium. This is essential because the statement verifies that the insured has remained in good health since the application was submitted. If the applicant's health has changed in a significant way—meaning they have developed an illness or condition—it could affect their insurability. This signed statement serves to protect the insurance company by confirming that the risk is unchanged at the time of policy delivery.

The other options are not standard requirements during the policy delivery process. Collecting a credit report is not part of the procedure, as the applicant's credit history typically is evaluated earlier in the underwriting process and does not need to be revisited upon policy delivery. A witness signature is also not a typical requirement in most states for life insurance policy deliveries. Additionally, policyholder tax information is relevant for tax purposes but is not related to the immediate requirements for policy issuance and delivery. Thus, the necessity of the signed statement of continued good health is a crucial part of ensuring both parties fulfill their responsibilities under the insurance contract at the time of delivery.