Delivery Receipt
What Does Delivery Receipt Mean?
A delivery receipt, in the context of insurance, is a document signed by the policyholder after successfully receiving the insurance policy. It confirms to the insurance company that the policy has been delivered and is in the possession of the customer. The effective date of the policy, and whether coverage has begun, may depend on the type of receipt the policyholder receives.
Insuranceopedia Explains Delivery Receipt
An individual applying for insurance may sometimes receive a conditional receipt, which can grant immediate coverage. However, this coverage is usually temporary, lasting only until the application is either approved or denied, and typically requires a premium payment. Insurers may also issue binders or other documents as temporary proof of coverage until the actual policy is delivered. Once the policy is delivered, the policyholder would then sign the delivery receipt to confirm receipt of the permanent coverage.
