Fla. Admin. Code Ann. R. 69B-151.202 - Requirements
(1)
(a) Forms required to be completed by the
insurer by its licensed and appointed agent and provided to the applicant prior
to or contemporaneous with the time the applicant signs any application for the
purchase of an additional life insurance policy or annuity contract to be
funded through the use of values accessed in an existing and in-force policy
with that same insurer.
(b) The
agent is responsible for accurately completing any form required for each
existing and in-force policy to be utilized as a funding source for the
purchase of additional insurance contract(s). Any required replacement and
sales forms must also be completed. One copy of any form completed as part of
the transaction is to be delivered to the policyowner, one copy is to be
maintained by the agent, and one copy is to be sent to the
insurer.
(2) Policy loan
request forms, surrender value request forms, dividend withdrawal request forms
or any other applicable service forms that are necessary to access the funds to
be used as a funding source for the payment of premiums for the additional
insurance policy shall be completed and executed in their entirety at the time
of new policy application and after presentation of the completed replacement
forms of the insurer and any policy comparison
information.
Notes
Rulemaking Authority 624.308(1) FS. Law Implemented 626.016(3), 626.9541(1)(aa) FS.
New 2-19-96, Formerly 4-151.202, Amended 6-4-18.
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