Primerica (Life insurance and
annuities policy replacement and
cancellation)
A legally suitable try via an current insurer to dissuade a current coverage owner from the
substitute of present lifestyles coverage is called - ANS-Conservation.
All coverage rules and annuity contracts delivered to senior residents within the State of
California are concern to a cancellation duration of at least - ANS-30 days
An insured has the right to cancel a coverage through written notification to the insurer. This
notification can be mailed to the insurer or lower back to the unique agent who made the sale.
Upon receipt of the cancellation request, the insurer will - ANS-Refund any rates and policy
prices within 30 days of be aware if the policy is within the cancellation duration detailed by
using the insurer.
An insurer has been found responsible of a Code violation regarding replacement. The insurer
then repeats the violation. What might be the minimal penalty? - ANS-$30,000
Any coverage agent who commits a repeated violation of the Insurance Code with recognize to
coverage replacement can be answerable for - ANS-An administrative penalty of no much less
than $five,000 and no extra than $50,000 in line with violation.
During the cancellation length, an insurer ought to refund any premiums and coverage charges
inside how many days of written cancellation note by means of the insured? - ANS-30
Every policy of person existence coverage ought to consist of a note of proper to cancel the
policy, mentioning the precise time frame for the free-look period. Once the insured has
cancelled the policy, within how many days need to the insurer refund all rates and policy
expenses? - ANS-30 days
How have to a changing producer reply to an applicant wishing to replace current life coverage?
- ANS-The producer have to offer the applicant with a Notice Regarding Replacement.
To which of the following merchandise does the Replacement Regulation practice? -
ANS-Whole life insurance
Which of the following insureds has a right to cancel an man or woman life policy inside 30
days? - ANS-Insureds 60 years of age of older
annuities policy replacement and
cancellation)
A legally suitable try via an current insurer to dissuade a current coverage owner from the
substitute of present lifestyles coverage is called - ANS-Conservation.
All coverage rules and annuity contracts delivered to senior residents within the State of
California are concern to a cancellation duration of at least - ANS-30 days
An insured has the right to cancel a coverage through written notification to the insurer. This
notification can be mailed to the insurer or lower back to the unique agent who made the sale.
Upon receipt of the cancellation request, the insurer will - ANS-Refund any rates and policy
prices within 30 days of be aware if the policy is within the cancellation duration detailed by
using the insurer.
An insurer has been found responsible of a Code violation regarding replacement. The insurer
then repeats the violation. What might be the minimal penalty? - ANS-$30,000
Any coverage agent who commits a repeated violation of the Insurance Code with recognize to
coverage replacement can be answerable for - ANS-An administrative penalty of no much less
than $five,000 and no extra than $50,000 in line with violation.
During the cancellation length, an insurer ought to refund any premiums and coverage charges
inside how many days of written cancellation note by means of the insured? - ANS-30
Every policy of person existence coverage ought to consist of a note of proper to cancel the
policy, mentioning the precise time frame for the free-look period. Once the insured has
cancelled the policy, within how many days need to the insurer refund all rates and policy
expenses? - ANS-30 days
How have to a changing producer reply to an applicant wishing to replace current life coverage?
- ANS-The producer have to offer the applicant with a Notice Regarding Replacement.
To which of the following merchandise does the Replacement Regulation practice? -
ANS-Whole life insurance
Which of the following insureds has a right to cancel an man or woman life policy inside 30
days? - ANS-Insureds 60 years of age of older
