In relationship to life insurance business, the third European Directive states that Member States may allow the
identity verification of the beneficiary under the policy after the business relationship has been established, but
before which events?

A.
At or before a premium payment has been accepted for the policy purchased

B.
At or before the policy is issued to the beneficiary by the insurance company

C.
At or before the time of payout or before the beneficiary intends to exercise rights vested under the policy

D.
At or before 30 days of the relationship being established under the policy