Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy quizlet?

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Subject to replacement laws:

Types of policies:

Whole life

Endowment

Term

Universal life

Variable life

Annuities

Situations:

* If the insured forfeits, surrenders, terminates or lapses an in-force policy.
* If the policy is changed to reduced paid-up or extended term nonforfeiture option.
* If the insured borrows 25% from the cash to buy a new policy.
* If the policy is reissued with any reduction in cash value, benefits or length of coverage.

Not subject to replacement laws:

Types of policies:

Group insurance

Credit life

Situations:(policies other than group or credit life)

* Proposed life insurance that is to replace life insurance under a binding or conditional receipt issued by the same company.
* When a conversion privilege is being exercised.
* When an insured adds policies replacement is not required.

High-deductible health plan.

To be eligible for a Health Savings Account, an individual must be covered by a high-deductible health plan (HDHP), must not be covered by other health insurance (does not apply to accident insurance, disability, dental care, vision care, long-term care), must not be eligible for Medicare, and can't be claimed as a dependent on someone else's tax return.