New Jersey Life Insurance Exam Practice Question
Under New Jersey law, the Policy Summary MUST be provided no later than
Correct Answer: C
Rationale: Under New Jersey law, the Policy Summary must be provided on the date the policy is delivered (Option C). This ensures that consumers receive essential information about their coverage at the time they are making a decision about their policy.
Option A is incorrect as providing the summary one week before delivery does not comply with the requirement for immediate access upon delivery. Option B is also wrong because delivering the summary two weeks after the policy is delivered fails to meet the legal obligation of timely information. Option D is misleading, as providing the summary at the time of application does not fulfill the requirement related to policy delivery.
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