What must an insurer provide to a prospective purchaser before accepting an applicant's initial premium?

The correct answer is that an insurer must provide a Buyer's Guide and Policy Summary to a prospective purchaser before accepting an applicant's initial premium. This requirement is rooted in the need to ensure that potential policyholders are well-informed about the insurance products they are considering.

The Buyer's Guide offers a comprehensive overview of various types of insurance policies available, helping consumers understand the different features, benefits, and limitations associated with each option. This information is crucial for consumers to make informed decisions about whether a particular policy meets their needs.

Additionally, the Policy Summary provides specific details about the policy being considered, including key information such as coverage amounts, premiums, and terms. By presenting both of these resources, insurers uphold their obligation to promote transparency and assist consumers in navigating the complexities of insurance products.

The other options, while potentially relevant in other contexts, do not meet the specific pre-condition set by regulatory requirements before accepting a premium. Policy dividend information, annual reports, and health examination results do not provide the necessary context or guidance for a consumer considering the purchase of a life or health insurance policy. Thus, the provision of the Buyer's Guide and Policy Summary ensures that the consumer is adequately equipped with the information needed to make an informed choice.