State RegulationsTX specific✓ Verified · outline & fact-checked · Sep 2026Difficulty 1/5
Under the Texas Buyer's Guide and policy summary rule, what is the primary purpose of the policy summary that accompanies a Texas individual life insurance application?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under 28 TAC 4.2310, the Buyer's Guide explains how life insurance works while the policy summary sets out the particular figures of the proposed policy, so the applicant can shop and compare rather than rely on the producer's description. The practical consequence is that the summary is a disclosure and comparison document only: it is neither the contract nor a receipt, and skipping it removes the buyer's principal comparison tool and triggers the extended free-look remedy in 28 TAC 4.2311, which begins when the consumer receives the contract.
Why the other options are wrong
- A) Commission disclosure is not the function of the policy summary.
- B) A premium receipt is a separate document; the summary does not evidence payment.
- D) The summary is a disclosure document; the issued policy governs the contract.
Memory hook
The Buyer's Guide teaches the game; the policy summary lets you compare the players.