Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy?
Understand the Problem
The question is asking which document an agent is required to submit to the replacing insurance company when replacing an existing life insurance policy. This falls under insurance regulations and practices.
Answer
The agent must submit the policy application for the new policy.
When replacing an existing life insurance policy, an agent must submit the policy application for the new policy to the replacing insurance company. This ensures transparency and captures the details needed for the new policy.
Answer for screen readers
When replacing an existing life insurance policy, an agent must submit the policy application for the new policy to the replacing insurance company. This ensures transparency and captures the details needed for the new policy.
More Information
The replacing insurance company needs the policy application to properly assess risk and establish the terms of the new policy, ensuring compliance and protecting the interests of all parties involved.
Tips
It may be easy to confuse the requirements for replacing an existing policy with those for initiating a new policy. Always be sure to understand the specific context of the question.
Sources
- Which of the following documents must an agent ... - Course Hero - coursehero.com
- Which of the following documents must an agent ... - brainly.com
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