It is the policy of First Safe Bank to offer credit life insurance and accident and disability insurance to all consumer loan customers. What procedures fulfill the disclosure requirements for the bank?

Question

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The best option would be to give each customer the disclosures orally at the time of application and, if applicable, in writing at loan closing. This ensures that the customer is fully informed about the insurance options before making a decision. A sign on loan officers' desks may not be noticed by all customers and may not provide sufficient information. Providing only a written disclosure at closing may not give the customer enough time to consider the options. Disclosures should be given to all customers, whether or not they purchase the insurance.

It Is the Policy of First Safe Bank to Offer