When must a Buyer's Guide and Policy Summary be delivered?

The requirement to deliver a Buyer's Guide and Policy Summary with or prior to policy delivery is based on consumer protection regulations. These documents are essential for ensuring that potential policyholders have clear and comprehensible information regarding the insurance products they are considering. By delivering these materials before or at the time of policy delivery, it allows the buyer to make an informed decision, understand the coverage options available to them, and clarify any questions they may have about the policy's terms.

This timing is crucial because it fosters transparency and trust between the insurer and the insured. If the documents were provided after the policy is delivered or only upon request, it could potentially lead to misunderstandings about the coverage and benefits, undermining the purpose of the regulations designed to protect consumers. Additionally, delivering this information at the time of claim would be too late for the insured, as they would not have had the opportunity to evaluate their coverage prior to the need to file a claim.