Health · Chapter 19 · Policy Issue & Delivery
Inspection Receipt
Definition
Signed when a prospect wants to review the policy BEFORE purchasing — no initial premium is paid, so no coverage is in force during the inspection period, and none begins until the first premium is paid. The state-required free-look period has made inspection receipts largely obsolete.
In plain English
A borrow-the-policy-to-read-it slip — not a coverage trigger.
Exam tip
⚠️ An inspection receipt is NOT a premium receipt — its purpose is to DELAY premium payment. If a question says "premium receipt," automatically rule out the inspection receipt.
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