For a Michigan universal life policy, the required policy information describing cost factors must be delivered within what period after application, and no later than when relative to policy delivery?

Why B is correct

M.C.L. 500.4038(4) requires the policy information for universal life and other contracts using the CVAT test to be delivered within 15 working days after application, but at least 5 days before delivery of the policy. The design is deliberate: the applicant must see the cost disclosure early enough to study it before the free-look clock really matters. Under M.C.L. 500.4038(4)-(6), when the policy is delivered sooner than 5 days after the information, the free look extends to 15 days, which shows how tightly Michigan links this disclosure timing to the applicant's examination rights.

Why the other options are wrong

• A) The policy information precedes delivery; the deadline is measured from the application, not from delivery.
• C) This reverses the statutory figures: the information is due within 15 working days after application and at least 5 days before delivery.
• D) Delivery at the moment of application is not required; the rule sets a 15-working-day outer deadline and a 5-day pre-delivery minimum.

Memory hook

15 working days after applying, 5 days before signing.