State RegulationsNC specificDifficulty 1/5
Under G.S. 58-60-15, when must an insurer deliver the Buyer's Guide and Policy Summary for an individual life insurance policy?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-60-15, the insurer must provide the Buyer's Guide and Policy Summary prior to accepting the initial premium deposit. The exception applies where the policy carries an unconditional refund provision of at least 10 days, in which case delivery with or at policy delivery satisfies the rule.
Why the other options are wrong
- A) Delivery within 30 days after issuance is not the rule; the default timing is before the initial premium is accepted.
- B) Delivery is the insurer's obligation and does not depend on a written request from the applicant.
- C) There is no first-year delivery timing; the statute keys delivery to the initial premium or policy delivery.
Memory hook
Guide before gold — deliver before the first premium.