What is the primary purpose of the Solicitation Rule in life insurance sales?

The primary purpose of the Solicitation Rule in life insurance sales is to assist purchasers in comparing different policies. This rule is designed to protect consumers by ensuring that the information provided about life insurance products is clear, accurate, and standardized. This transparency allows potential buyers to evaluate various policies effectively and make informed decisions based on their individual needs and financial situations. By focusing on comparisons, the rule helps foster a competitive market where consumers can choose the best product suitable for them.

The other options do not accurately reflect the main objective of the Solicitation Rule. For instance, limiting the number of policies sold goes against the idea of consumer choice and market competition. Ensuring compliance with federal regulations is an important aspect of regulation but is not the specific focus of the Solicitation Rule itself. Promoting bulk sales to organizations can occur in certain contexts but does not align with the fundamental goal of aiding individual consumers in their decision-making process regarding insurance policies.