Which document is used to temporarily insure a client until a formal policy is issued?

The document that is used to temporarily insure a client until a formal policy is issued is the insurance binder. A binder serves as a temporary agreement between the insurer and the insured, providing coverage until the formal insurance policy is finalized and delivered. It ensures that there is immediate coverage for the insured, which can be critical in situations where a delay in policy issuance might leave the client unprotected.

The binder typically contains essential details about the coverage, such as the types of risks covered, limits of liability, and the effective date of coverage. It allows the client to have peace of mind knowing they are insured while awaiting the official policy documents. Once the formal policy is issued, the binder would be replaced by the permanent policy documentation.

In contrast, the application form is primarily used to initiate the insurance process and gather information from the insured, but it does not provide any coverage. The policy declaration is part of the insurance policy itself and outlines the terms and conditions of coverage but does not serve a temporary purpose. An endorsement is a document that modifies the terms of an existing policy, not a temporary insurance solution. Thus, the insurance binder is the correct answer, as it directly addresses the need for temporary coverage.