nevada life insurance Questions And Answers

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and Policy Summary B Policy illustrations C Notice Regarding Replacement D Disclosure Authorization Form - C Which of the following terms is used to describe a person, other than a viator, that enters into or effectuates a viatical settlement contract? A Viatical settlement purchaser B Viatical settlement broker C Viatical settlement effectuator D Viatical settlement provider - D Within how many months must a person be expected to die from a sickness in order to be classified as terminally ill? A 3 B 6 C 12 D 24 - D For how long must agents retain copies of notices and sales proposals for life insurance applications? A 1 year