State RegulationsIL specificDifficulty 1/5
Under the Illinois life solicitation regulation, when must the Buyer's Guide be made available to a prospective purchaser of an individual life insurance policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
The disclosure design of the Illinois life solicitation rule (50 Ill. Adm. Code 930) puts the Buyer's Guide in the applicant's hands at or before the application stage, because its purpose is to educate the buyer while the purchase decision is still open. Providing it only after delivery, only on request, or only with claim forms would defeat that purpose, and the Illinois Department of Insurance treats timely disclosure as part of the producer's solicitation duties.
Why the other options are wrong
- B) Waiting until after the first policy year defeats the guide's purpose of informing the purchase decision.
- C) The guide is part of the standard disclosure process; it is not conditioned on a written request from the applicant.
- D) Coupling the guide with claim forms at delivery comes far too late; the guide belongs at or before application.
Memory hook
Guide early, guide often — at or before application.