Which document must contain a "Statement of Policy Cost and Benefit Information"?

The "Statement of Policy Cost and Benefit Information" is most appropriately included in the policy summary. This document is designed to provide essential details about the coverage, including the costs associated with the policy and the benefits that it offers. The policy summary serves as a concise overview that allows prospective and current policyholders to quickly understand key elements of their insurance, facilitating informed decision-making regarding their insurance options.

A policy application serves a different function by gathering information from the applicant to assess eligibility and risk for underwriting purposes. The certificate of coverage is typically a document that outlines the specific coverage provided under a group policy but does not necessarily include detailed cost and benefit information. The insurance contract is a legal agreement that outlines the terms of coverage, but it is usually more comprehensive and detailed than a summary. Thus, the policy summary is the specific document that is intended to succinctly present both the costs and benefits related to a policy, making it the correct choice.