5. Which statement about replacing individual life insurance policies is true? Oa. Replacement is never permitted in Florida. Ob. Replacement c. Replacement proposals must be submitted to, and approved by, the Department of Financial Services before the transaction is executed. Od. Replacement may sometimes be in the best interests of an applicant if an existing policy no longer meets the person's needs. is permitted only if the agent accepts a lower commission for the sale.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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15. Which statement about replacing individual life insurance policies is true?
Oa. Replacement is never permitted in Florida.
Ob. Replacement is permitted only if the agent accepts a lower commission for the sale.
c. Replacement proposals must be submitted to, and approved by, the Department of
Financial Services before the transaction is executed.
Od. Replacement may sometimes be in the best interests of an applicant if an existing
policy no longer meets the person's needs.
Transcribed Image Text:15. Which statement about replacing individual life insurance policies is true? Oa. Replacement is never permitted in Florida. Ob. Replacement is permitted only if the agent accepts a lower commission for the sale. c. Replacement proposals must be submitted to, and approved by, the Department of Financial Services before the transaction is executed. Od. Replacement may sometimes be in the best interests of an applicant if an existing policy no longer meets the person's needs.
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