Question 18

The person who submits an application for life insurance is the applicant.

In the context of life insurance, the individual who submits the application is referred to as the applicant. This role is crucial in the insurance process as the applicant provides necessary information for the insurer to assess the risk.

A) insurer.

The insurer is the company that provides the life insurance policy and assumes the risk associated with it. While the insurer plays a vital role in the transaction, it is not the person submitting the application.

B) applicant.

The applicant is the correct term for the individual who fills out and submits the application for life insurance. This person is responsible for providing personal information and medical history to the insurer for underwriting purposes.

C) underwriter.

An underwriter is a professional who evaluates the risk of insuring an applicant and determines the appropriate terms for the insurance policy. However, the underwriter does not submit the application; rather, they assess the information provided by the applicant.

D) beneficiary.

The beneficiary is the person designated to receive the benefits from the life insurance policy upon the death of the insured. This term refers to an individual who may benefit from the policy, but does not pertain to the submission of the application itself.

Conclusion

The applicant is definitively the correct answer as it accurately describes the person who initiates the life insurance process by submitting an application. All other options refer to roles within the insurance transaction that do not involve submitting an application, thereby confirming that they are incorrect in this context.