Which document signifies that the policyowner can review the policy and return it for a refund?

The document that signifies that the policyowner can review the policy and return it for a refund is the delivery receipt. This receipt is provided when the insurance policy is delivered to the policyowner and typically includes information about the policy's effective date and the right to review the terms.

The policyowner usually has a specified period during which they can examine the policy and decide if they wish to keep it or return it for a full refund. This provision helps ensure that the policyowner fully understands the policy's terms and conditions before making a long-term financial commitment.

In contrast, the application form is primarily used for submitting information to the insurer and does not provide a review period. The conditional receipt is issued when the application is submitted and indicates that coverage is in effect under certain conditions, but does not grant a refund option upon review of the policy. The binding receipt also provides temporary coverage but does not include a review period for returning the policy. Therefore, the delivery receipt is essential for ensuring the policyowner’s right to reconsider their purchase after delivery.