191—15.64 (507B) Standards for delivery of disclosure document and Buyer’s Guide.
	 15.64(1) Delivery requirement. When an insurer or an insurance producer receives an application for an annuity contract, the insurer or insurance producer shall provide the applicant the disclosure document described in rule 191—15.65(507B) and the Buyer’s Guide to Fixed Deferred Annuities, hereafter “the Buyer’s Guide,” in the current form prescribed by the National Association of Insurance Commissioners or in language approved by the commissioner of insurance.
	 15.64(2) Delivery methods. The documents required under this rule may be delivered as follows:
	  a.   	 When an application for an annuity contract is taken in a face-to-face meeting with an insurance producer, the insurance producer shall provide the disclosure document and the Buyer’s Guide at or before the time of application.
	  b.   	 When an application for an annuity contract is taken by means other than a face-to-face meeting, the insurer shall send the applicant both the disclosure document and the Buyer’s Guide no later than five business days after the completed application is received by the insurer.
	  c.   	 When an application is received as a result of direct solicitation through the mail, the insurer may provide the Buyer’s Guide and the disclosure document in the mailing which invites prospective applicants to apply for an annuity contract.
	  d.   	 When an application is received via the Internet, the insurer may comply with this rule by taking reasonable steps to make the Buyer’s Guide and disclosure document available for viewing and printing on the insurer’s Web site.
	 15.64(3) A solicitation for an annuity contract which occurs other than in a face-to-face meeting shall include a statement that the proposed applicant may contact the Iowa insurance division for a free annuity Buyer’s Guide. In lieu of the foregoing statement, an insurer may include a statement that the prospective applicant may contact the insurer for a free annuity Buyer’s Guide.
	 15.64(4) When the Buyer’s Guide and disclosure document are not provided at or before the time of application, a free-look period of no less than 15 days shall be provided for the applicant to return the annuity contract without penalty. This free look shall run concurrently with any other free look provided under the state law or rule.