State RegulationsNY specificDifficulty 1/5
Under the entire contract provision required in New York life policies, the entire contract consists of:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under N.Y. Ins. Law §3203(a)(4), the entire contract consists of the policy and the attached application, and statements in that application are representations rather than warranties under §3204. Nothing else - advertisements, illustrations, or the buyer's guide - is part of the contract. The policyholder may also request a copy of the application within 15 days after issue.
Why the other options are wrong
- B) Sales illustrations and advertisements are not part of the contract; the entire contract under §3203(a)(4) is the policy plus the attached application.
- C) The buyer's guide is a disclosure document delivered under N.Y. Ins. Law §3209; it is not part of the contract.
- D) Excluding the application would defeat the entire contract clause; the application must be attached so its representations are part of the contract.
Memory hook
Entire contract = policy + attached application. Nothing else.