State RegulationsFL specificDifficulty 1/5
Under Florida law, when must the insurer deliver the Buyer's Guide for an ordinary individual life insurance policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Fla. Stat. 626.99(4)(a) ties 14 days to the Buyer's Guide delivery condition; Florida has no separate general free-look statute for life policies. The insurer must deliver the Buyer's Guide and Policy Summary before accepting the initial premium unless the policy provides an unconditional refund of premium for at least 14 days, and the DFS enforces this consumer-disclosure condition through market-conduct review.
Why the other options are wrong
- A) Waiting until policy delivery is too late; the guide must reach the applicant before the initial premium is accepted unless the 14-day refund applies.
- C) Florida law ties the Buyer's Guide to acceptance of the initial premium, not to a 30-day period after policy issuance.
- D) Delivery is the insurer's duty performed automatically; the applicant does not have to request the guide in writing.
Memory hook
Guide before gold: no Buyer's Guide, no premium - unless 14 days of unconditional refund.