What is the latest time the policy summary and buyer's guide must be given to a client?

The correct answer highlights that the policy summary and buyer's guide must be provided at the time of policy delivery. This timing is significant because it ensures that when the client receives their insurance policy, they are equipped with essential information about the policy's terms, coverage options, and any other pertinent details that can aid in their understanding and decision-making. By providing these documents at the time of delivery, the insurer helps to foster transparency and allows the client to review the critical information right before they formally accept the policy.

If the documents were given earlier, such as before the application or at the first premium payment, the client might not have access to the finalized details of the policy they are about to purchase. Similarly, providing these documents upon renewal would not align with the importance of ensuring that the client fully comprehends the specifics of their policy when they are making a commitment, rather than at a point where they may feel pressured to continue without reviewing the updated information. Therefore, delivering these materials at the time of policy delivery is crucial in promoting informed decisions and consumer protection in the insurance marketplace.