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identify when the coverage is effective, it also establishes the date by which future annual premiums must be paid


  1. identify when the coverage is effective, it also establishes the date by which future annual premiums must be paid.
  2. addresses the specific product being presented for sale. It identifies the agent, the insurer, the policy, and each rider. It includes information about premiums, dividends, benefit amounts, cash surrender values, policy loan interest rates, and life insurance cost indexes.
  3. generic publication that explains life insurance in a way that average consumers can understand. It does not address the specific product or policy being considered.
  4. In most states, life insurance companies are required to pay death claims within a specified period after proper notification is received (usually 60 days).A formal proof of death of some type is usually required by the company, in addition to a death certificate completed by the attending physician or the coroner
  5. 1.outstanding loan against the cash value of a policy
    2.premium payment is due
    3. error made in determining the age or gender of the insured when the policy was issued. If such an error is discovered at the time of death, the insurance company will compute the face amount that the premium would have purchased if the accurate information was used and pay that amount to the beneficiary.
  6. Notify company, contact beneficiary, help complete a proof of death form send it in with death cert
  7. purchase of one life insurance policy to replace another. Because of the cash values that can build up in a policy and the favorable loan interest rates in older policies, replacement can be disadvantageous to consumers
  8. •New insurance requires the applicant to prove insurability.
    •Premiums may be higher for a new policy.
    •New policy provisions will have to be complied with, such as a new incontestable period.
    •The existing policy's provisions may be more liberal than a new policy's provisions.
    •Generally, a new policy will not have current cash values.
  9. •list all existing life insurance policies to be replaced;
    •give the applicant a Notice to Applicants Regarding Replacement of Life Insurance (a copy of the forms should be left with the applicant); and
    •give the insurer a copy of any proposals made and the name of the insurer of the policy that is to be replaced
  10. •Making sure that all replacements are in compliance with state regulations
    •Notifying each insurer whose insurance is being replaced and, upon request, furnishing a copy of any proposal
    •Maintaining copies of proposals and receipts
  11. marketing, underwriting, and delivery of insurance policiesrepresent and market the insurer's products in an ethical and professional mannerknowledge of insurance products, awareness of a prospect's insurance needs and problems be aware of insurance lawsproducer's duty to accurately and thoroughly complete all applications for insurance, collect initial premiums, and promptly submit them to the company. esponsible for providing the insurance applicant with privacy notices and information, such as the Notice of Insurance Information Practices, as well as necessary receipts for the initial premium collected.


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