Which statement is true when an insurance application is taken by a producer?

The statement that changes made on the application require the applicant's initials is accurate because it ensures that the applicant is aware of and agrees to any modifications made to their application. This practice protects both the insurer and the applicant by maintaining transparency and confirming that no unauthorized changes have been made. By requiring initials, it provides a record that the applicant acknowledges the revisions, which can help prevent misunderstandings or disputes in the future.

In the context of the other options, while it is beneficial for a producer to meet with the applicant during the application process, it is not mandatory for all applicants to be present at that time. Additionally, it is not required that only completed applications be accepted, as producers may submit applications that need further information or follow-up. Finally, although producers can assist in filling out applications, doing so without the applicant present could lead to inaccuracies or misunderstandings regarding the applicant's intentions or needs. Thus, the requirement for initials on changes fosters accountability and clarity in the application process.