A signed good health statement may be collected by a producer at the time of

A signed good health statement is typically collected at the time of policy delivery. This is a crucial step because it serves as a confirmation that the applicant remains in good health from the time of the application to the time of delivery of the policy. The insurance company may need this statement to ensure that there have been no significant changes in the applicant's health status that could affect the underwriting process or the terms of the policy.

Collecting the statement at this stage allows the insurer to mitigate risk by verifying ongoing health status before officially binding coverage. This ensures that the insurer is protected against issuing a policy based on outdated health information, which may lead to higher claims.

During the policy application phase, health information is often gathered, but the good health statement serves as a final confirmation right before the policy goes into effect. This distinction highlights the importance of capturing the most current health status just before the insured formally receives their coverage.