At the time of policy delivery, what must be provided to the life insurance applicant regarding credit checks?

When a life insurance applicant receives their policy, it's crucial for them to be informed of their rights concerning credit checks. The law mandates that applicants must receive a notice of their rights relating to any credit report that may have been used in the underwriting process. This notice serves to ensure transparency and allows applicants to understand how their credit history may impact their insurance application, along with the steps they can take if they have concerns about the information reported.

Providing a summary of credit history or a copy of the credit report would not fulfill the legal requirements; instead, the focus is on informing the applicant of their rights. Approval of the application is not relevant at the point of policy delivery, and the priority is the applicant's awareness and understanding of their rights regarding the credit information used during the underwriting process.