State RegulationsNY specificDifficulty 1/5
Under N.Y. Ins. Law §3209, when must the buyer's guide be delivered in a face-to-face life insurance solicitation?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under N.Y. Ins. Law §3209 and Reg 74, Part 53-2.6, the buyer's guide must be delivered to the applicant at the time the application is taken, so the consumer can use its comparison-shopping information before deciding to buy. The policy summary, by contrast, is delivered later, when the policy itself is delivered.
Why the other options are wrong
- A) Delivery at policy time is the rule for the policy summary, not the buyer's guide.
- B) The rule is tied to the application, not to a post-issue waiting period.
- C) The buyer's guide is not triggered by premium payment — it must be provided up front, with the application.
Memory hook
The guide goes with the application — before the sale, not after.