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10/2/20

[Answer] When the replacement of Life Insurance is involved the replacing insurer must delay issuing its policy for how many days?20 days60 days10 days30 days

Answer: 30 days




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When the replacement of Life Insurance is involved the replacing insurer must delay issuing its policy for how many days?20 days60 days10 days30 days Wed Jan 08 2020 · For many people life insurance is not a one-time purchase. There are many reasons why they would replace their policy with a new one—to … When replacement is involved a producer must do all of the following EXCEPT: A) give the applicant a notice regarding replacement of life insurance signed by the applicant and producer. B) make a list of the applicant's existing life insurance policies. C) notify the existing insurer when one of its subsidiaries will issue the replacing policy . 10509.4. (a) Each agent who accepts an application shall submit to the insurer with which an application for life insurance or annuity is presented or as part of each application both of the following: (1) A statement signed by the applicant as to whether replacement of existing life insurance or annuity is involved in the transaction. The Life Insurance Medical Exam When you purchased your life insurance policy you took a life insurance medical exam and "passed". If you try and get a new policy and you have to take a new life insurance medical exam you may not be eligible for a new policy or may have certain restrictions.You might even be uninsurable or have to take a more expensive policy than you were originally quoted. insurance policy or annuity contract is surrendered forfeited assigned to the replacing insurer or otherwise terminated or used in a financed purchase. A financed purchase occurs when the purchase of a new life insurance policy or annuity cont...

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