Which of the following is NOT one of the functions performed by life insurance agents?

The correct answer is that underwriting insurance risks is not a function typically performed by life insurance agents. Underwriting is a specialized process that involves evaluating the risks associated with insuring an individual, and it is generally performed by underwriters who possess specific training and authority. These professionals analyze applicants' information, such as medical history and lifestyle choices, to determine the appropriate premiums and policy terms.

Life insurance agents primarily focus on soliciting applications and educating clients about the various products available. They play a crucial role in guiding potential clients through the application process and helping them understand their choices. Accepting initial premiums is also within an agent's responsibilities as they facilitate the payment process when a client purchases a policy. Additionally, issuing receipts is a task that agents handle, providing clients with proof of payment, which also serves to document the transaction for both the client and the insurance company.

Through these functions, life insurance agents act as intermediaries between the insurance company and the clients, but they do not engage in the technical and often regulatory responsibilities of underwriting. This distinction highlights the importance of specialized roles in the insurance industry, ensuring that each function is performed by qualified individuals.