What must be provided to a life insurance applicant at the time of policy delivery?

The correct answer indicates that a Buyer's Guide must be provided to a life insurance applicant at the time of policy delivery. The reason for this requirement is to ensure that applicants are fully informed about the products they are purchasing. The Buyer's Guide serves as an educational tool that explains the types of life insurance available, their features, benefits, and any risks involved. This helps consumers make an informed decision regarding their life insurance needs.

Providing a Buyer's Guide is particularly important because life insurance is often a long-term financial commitment, and potential policyholders should understand their rights and the implications of the products they are considering. This requirement is part of regulatory efforts to promote transparency and protect consumers in the insurance market.

While a policy brochure, health assessment, or financial statement may provide additional information or context about an insurance policy, they do not fulfill the specific requirement of educating the applicant about the fundamental aspects of purchasing life insurance. Thus, the Buyer's Guide stands out as the essential document that must be provided during the policy delivery process.