A New York insurer solicits life insurance by mail without any agent or broker involvement. Under N.Y. Ins. Law §3209, each initial solicitation mailing must include a copy of the buyer's guide unless...
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Why D is correct
Under N.Y. Ins. Law §3209(a)(1)(b)(1)(A), mail solicitations made without an agent or broker must include a copy of the buyer's guide with each initial solicitation unless the policy provides at least a 30-day period within which the applicant may return it for an unconditional refund of the premiums paid, in which case the buyer's guide may be delivered with the policy or prior to delivery. For context, the ordinary statutory return window runs not less than 10 nor more than 30 days after receipt (§3203(a)(11)), §3209(d)(7) guarantees at least 10 days, and mail-order policies carry the 30-day refund right.
Why the other options are wrong
- A) The applicant cannot waive the buyer's guide requirement; the statutory alternative is the 30-day unconditional refund provision, not a waiver.
- B) Including a policy summary does not substitute for the buyer's guide; the mailing must also alert the prospect to the right to request both before delivery.
- C) The insurer's home-office location is irrelevant — the requirements attach to policies delivered or issued for delivery in New York.
Memory hook
Mail-order sales: guide in the mailing, or a 30-day money-back promise instead.