Apolicy summaryis a document required under Pennsylvania Life Insurance disclosure rules that outlines themost important provisions of a purchased policy. It provides a clear, concise overview of coverage details, including the face amount, premium schedule, cash values, dividends (if any), riders, and policy features.

Pennsylvania insurance study guides emphasize that the policy summary helps consumers understand their policy without needing to interpret the full contract language. It is typically delivered at or before policy delivery and serves as a key consumer protection tool.

The other options are incorrect. An underwriter’s report is an internal insurer document used for risk evaluation. A buyer’s guide provides general information about insurance types, not policy-specific details. A conditional receipt provides temporary coverage under certain conditions while an application is pending.

Therefore, the document that specifies the most important provisions of a purchased policy is thepolicy summary, making option A the correct and verified answer.