Question

when a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions except?

(A) give the applicant a Notice Regarding Replacement of Life Insurance
(B) give the applicant the original or a copy of the proposals used in the sales presentation
(C) obtain the beneficiary's signature on a summary of all policies to be replaced
(D) submit to the producer's insurance company a copy of the Notice Regarding Replacement of Life Insurance signed by the applicant

Answer 1

Answer:

(C)

Explanation:

According to my research on insurance policy requirements, I can say that based on the information provided within the question the one action that does not need to be taken from the answers provided would be to "obtain the beneficiary's signature on a summary of all policies to be replaced". This is because the beneficiary should sign the new policy and not the summary.

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