Which of the following is a generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process?

The correct answer is the Buyer's Guide. This publication is designed specifically to help consumers understand life insurance products and concepts in straightforward language. Its main purpose is to provide essential information that aids applicants in making informed decisions about their life insurance needs.

A Buyer's Guide typically covers various types of life insurance, guiding consumers through important factors such as benefits, features, costs, and comparisons among different policies. It empowers potential policyholders by highlighting key aspects they should consider, ultimately facilitating a more confident purchasing process.

In contrast, an Insurance Index serves as a reference tool rather than a detailed guide, a Policy Summary is a brief overview of a specific insurance policy's features, and Illustrations provide specific numerical details about a policy’s potential future performance. While these may assist in understanding certain facets of life insurance, they do not serve the broad and educational role that a Buyer's Guide provides, which specifically aims at helping consumers navigate the complexities of choosing a life insurance product.