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Which document must producers provide when selling LTC policies?

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An outline of coverage and a Shoppers Guide

When selling Long-Term Care (LTC) policies, producers are required to provide consumers with both an outline of coverage and a Shopper's Guide. This requirement is in place to ensure that potential policyholders have access to clear and essential information regarding the specifics of the coverage being offered.

The outline of coverage is critical because it summarizes the benefits, limitations, and conditions of the LTC policy, allowing buyers to understand exactly what they are purchasing. Meanwhile, the Shopper's Guide serves to inform consumers about long-term care insurance in general, helping them compare different products and make informed decisions. This combination of documents aids in promoting transparency and understanding of the complexities associated with LTC policies, ultimately helping consumers choose the policy that best fits their needs.

Other options, while they may have some relevance in different contexts, do not fulfill the specific regulatory requirements that protect consumers in the LTC market. Therefore, the provision of the outlined documents is essential and legally mandated when selling LTC policies.

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A financial disclosure statement

A warranty for non-cancellation

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