L&HOhiomedium
Under Ohio's policy illustration rule, what is required when a life policy is sold with an illustration?
AOnly a brochure of company financial ratings
A signed copy of the illustration delivered no later than policy delivery, with guaranteed and non-guaranteed elements clearly separated
CAn audio recording of the entire sales conversation must be filed with the Ohio Department of Insurance within ten business days after the policy is delivered to the applicant
DA separate variable prospectus regardless of product type
Why this is the answer
OAC 3901-6-04 requires that when a life policy is marketed with an illustration, the applicant and producer sign the illustration and deliver it no later than policy delivery, with guaranteed and non-guaranteed elements clearly labeled.
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