What is the purpose of a Buyer's Guide in insurance?

The purpose of a Buyer's Guide in insurance is to help applicants compare different policies. This guide serves as a valuable resource for consumers as they navigate the complexities of insurance products. It typically includes detailed information regarding various types of insurance coverage, features of the policies, benefits, and limitations, allowing potential buyers to make informed decisions tailored to their specific needs.

By presenting a side-by-side comparison of different insurance options, the Buyer's Guide enables consumers to understand the differences in coverage, cost, and suitability of various policies. This comparison is essential in helping applicants choose the best policy for their situation, ensuring they can effectively weigh their options and select the most appropriate coverage.

The other choices do not reflect the primary purpose of a Buyer's Guide; they relate to different aspects of insurance regulation and market analysis, which, while important, are not the central focus of the Buyer's Guide's intended use.