28 Tex. Admin. Code § 3.9504 - Consumer Notice Regarding Replacement for Insurers Using Agents
(a) An agent who initiates an application for
a life insurance policy or annuity contract shall submit to the insurer, with
or as part of the application, a statement signed by both the applicant and the
agent as to whether the applicant has existing life insurance policies or
annuity contracts.
(b) If the
applicant states that the applicant does have existing policies or contracts,
the agent shall present and read to the applicant, not later than at the time
of taking the application, a notice regarding replacement that contains the
text contained in Figure: 28 TAC §
3.9504(b), or
substantially similar notice filed with the department and approved under this
subchapter. The notice shall be signed by both the applicant and the agent
attesting that the notice has been read aloud by the agent or that the
applicant did not wish the notice to be read aloud, in which case the agent is
not required to read the notice aloud.
Notes
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