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Popular Standardized Tests sets Where a replacement is involved the producer must do all of the following except?Exam Prep. How must a replacing producer response to an applicant wishing to replace existing life insurance quizlet?How must a replacing producer respond to an applicant wishing to replace existing life insurance? The producer must provide the applicant with a Notice Regarding Replacement.
What is considered a replacement policy?A replacement occurs when a new policy or contract is purchased and, in connection with the sale, you discontinue making premium payments on the existing policy or contract, or an existing policy or contract is surrendered, forfeited, assigned to the replacing insurer, or otherwise terminated or used in a financed ...
What is an example of policy replacement?Policy replacement is "...an action which eliminates the original policy or diminishes its benefits or values." Examples of this are policy loans, taking reduced paid-up insurance, or withdrawing dividends.
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