Which of the following statements regarding the "Notice Regarding Replacement of Life Insurance" is CORRECT?

Which of the following statements regarding the "Notice Regarding Replacement of Life Insurance" is CORRECT?


A) It must be presented to all applicants, whether or not a policy is being replaced.

B) It must be presented to the applicant no later than upon policy application.

C) It need not be given to the applicant in the case of a direct response sale.

D) It is not required if the face amount of the policy being replaced is less than $5,000.



Answer: B) It must be presented to the applicant no later than upon policy application.

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