On Aug 6, D submitted an application for $50,000 life policy. On Aug 18, doctor stated he had chest pains. The life policy was delivered on the 20th but never gave initial premium. What action should producer take?
a- collect initial premium
b- collect initial premium along with a signed health statement
c- explain to the applicant the policy is no longer in effect due to change in health condition
d- collect initial premium and leave a binding receipt
