An insurance company MUST take which of the following actions when one of its producers replace an existing life policy. Notify the existing insurance producer about the proposed replacement within seven working days after receiving the application for the new policy 2.Notify the existing insurance company about the proposed replacement within three working days after receiving the application for the new policy 3.Extend the new policy's Free Look period to a maximum of sixty days 4.Maintain records of the replacement for a minimum of one year

An insurance company MUST take which of the following actions when one of its producers replace an existing life policy. Notify the existing insurance producer about the proposed replacement within seven working days after receiving the application for the new policy 2.Notify the existing insurance company about the proposed replacement within three working days after receiving the application for the new policy 3.Extend the new policy's Free Look period to a maximum of sixty days 4.Maintain records of the replacement for a minimum of one year

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 96IIP

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