28 Tex. Admin. Code § 3.9505 - Direct Response Consumer Notices
In the case of a life insurance or annuity application initiated as a result of a direct response solicitation, the insurer shall inquire whether the applicant, by applying for the proposed policy or contract, intends to replace, discontinue, or change an existing life insurance policy or annuity contract. The inquiry may be included with, or submitted as a part of, each completed application for such policy or contract.
(1) If the insurer has proposed the
replacement or if the applicant indicates a replacement is intended and the
insurer continues with the replacement, the insurer shall send a notice that
contains the text in Figure: 28 TAC §
3.9505(1), or a
substantially similar notice filed with the department and approved under this
subchapter.
(2) If
the applicant indicates a replacement or change is not intended or if the
applicant fails to respond to the statement, the insurer shall send the
applicant, with the policy or contract, a new policy or contract notice that
contains the statements in Figure: 28 TAC §
3.9505(2).
Notes
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