Final answer:
Yes, an insurer must provide a Buyer's Guide if an annuity application is not taken in person. It is part of the consumer protection measures in the financial services industry, providing essential information about the annuity to the prospective buyer.
Step-by-step explanation:
When an annuity application is not taken in person, an insurer must provide the applicant a Buyer's Guide. This is mandated as part of consumer protection and disclosure requirements associated with the sale of annuities. The Buyer's Guide is a critical document that helps potential buyers of annuities understand the features, benefits, costs, and potential risks associated with these financial products. It aids in making informed decisions and provides a level of transparency in the transaction.
A bank, before deciding to lend money, must consider various factors such as the borrower's creditworthiness, income stability, and the purpose of the loan. When shopping for a loan, a borrower should ask about interest rates, loan terms, monthly payment amounts, and any additional fees. Continuing on the topic of finances, maintaining a good credit score involves paying bills on time, keeping credit card balances low, and avoiding excessive inquiries into one's credit report. Besides loans and credit, the costs associated with purchasing and maintaining a car can include the purchase price, registration and licensing fees, insurance premiums, fuel costs, and ongoing maintenance and repairs.
As for insurance, certain types such as auto liability insurance are required by law, while others might be highly recommended or conditional based on circumstances. People can save money on auto and health insurance by shopping around, bundling policies, maintaining a good driving record, choosing plans with higher deductibles, and staying healthy to qualify for lower premiums.