Which date must be included in a policy summary?

The date the summary was prepared is an essential component of a policy summary because it provides the consumer with context regarding when the information was compiled. This date helps ensure that the details presented in the summary are relevant and accurate as of that time, which is crucial for making informed decisions. Additionally, it assists in understanding if there have been any updates or changes to the policy since the summary was crafted. Including this date allows consumers to consider the timing when evaluating their options and ensures transparency in communications from the insurer.

While the effective date, renewal date, and expiration date are all important aspects of an insurance policy, they are not specifically required in the summary itself. Including the preparation date emphasizes the importance of timely and relevant information for policyholders.