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. A buyer's guide is a publication designed specifically to provide consumers with general information about life insurance products. It highlights various types of insurance policies, terms, conditions, and the factors to consider when selecting coverage. This resource aims to empower applicants with knowledge, helping them to understand their options and make informed decisions about life insurance.

In contrast, an insurance index remains a reference tool that helps locate specific details about policies but does not provide in-depth explanations or guidance for decision-making. A policy summary offers a concise overview of a specific insurance policy but lacks the broader context that a buyer's guide provides to help consumers navigate the overall life insurance landscape. Illustrations typically demonstrate potential policy values and performance projections but don’t serve the purpose of informing consumers about life insurance in general terms. Therefore, the buyer's guide stands out as the most appropriate resource for assisting applicants in their decision-making process regarding life insurance.