(a) A life insurer shall provide to all prospective insureds a buyerâs guide prior to accepting the applicantâs initial premium or premium deposit. However, if the policy for which application is made contains an unconditional refund provision of at least 10 days, the buyerâs guide shall be delivered with the policy or prior to delivery of the policy. (b) For the purposes of this chapter, a buyerâs guide is a document that contains, and is limited to, the current buyerâs guide recommended for use by the National Association of Insurance Commissioners.
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