State RegulationsOH specificDifficulty 1/5
An Ohio applicant is buying a life policy from a licensed agent in the ordinary way — no unconditional refund provision and no direct-response solicitation involved. When must the insurer provide the buyer's guide?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
OAC 3901-6-03(E) requires the insurer to provide both the buyer's guide and the policy summary prior to accepting the applicant's initial premium or premium deposit. Delivering them with the policy is allowed only in the narrow case where the policy or policy summary contains an unconditional refund provision of at least 10 days — which this sale does not have.
Why the other options are wrong
- A) Delivery with the policy is permitted only when there is an unconditional refund provision of at least 10 days, which is absent here.
- B) No 30-day grace exists for the buyer's guide; the guide must precede acceptance of the initial premium or deposit.
- C) At-delivery timing again depends on the 10-day unconditional refund exception, which does not apply to this sale.
Memory hook
Guide before gold — buyer's guide precedes the first premium.