When must a life insurance applicant be provided with a Buyer's Guide?

A Buyer's Guide must be provided to a life insurance applicant no later than policy delivery to ensure that the applicant has access to necessary information about the policy before making a final decision. This timing is crucial as it allows the individual to review the terms, benefits, and costs of the insurance policy directly before they commit to purchasing it. By providing the guide at this point, insurers help potential policyholders understand what they are buying, thus promoting informed decision-making and transparency in the insurance purchase process.

Providing the Buyer's Guide at the policy delivery stage supports regulatory compliance, as many states, including South Dakota, enforce this requirement to protect consumers as they engage with life insurance products.