Question 3008 of 287 · Texas Life, Accident and Health Agent Exam
A life insurance replacement occurs when a new policy is purchased and an existing policy is
Exactly one answer is correct.
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Correct answer to question 3008
- D: lapsed, surrendered, or changed so that benefits are reduced
Explanation
Replacement means the new policy is purchased in connection with ending or reducing existing coverage. State rules require notices so the owner can compare the cost and values.
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