When does the agent give a premium receipt for an accident and health insurance application?

• A. When the application has been approved
• B. During the medical exam
• C. When the initial premium has been collected with the application
• D. When the completed application has been collected

Answer: (C)

The essential idea is that a premium receipt is issued when the first premium is collected with the application. This acknowledges payment and, if a conditional receipt applies, may start temporary coverage while underwriting and final policy issuance proceed. It isn’t issued after approval, during the medical exam, or just when the completed application is collected without the initial premium. So the receipt is given at the moment the initial premium is paid with the application.