Which document MUST accompany an application that initiates the replacement of an existing life
insurance policy?
A signed statement by the applicant regarding the replacement
A signed replacement statement from the insurance company being replaced
A detailed comparison of existing coverage and the proposed coverage
A signed replacement statement from the replacing insurance company

Question

17-06-2022
Business

contestada

Which document MUST accompany an application that initiates the replacement of an existing life
insurance policy?
A signed statement by the applicant regarding the replacement
A signed replacement statement from the insurance company being replaced
A detailed comparison of existing coverage and the proposed coverage
A signed replacement statement from the replacing insurance company

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nikitavidya0 nikitavidya0 · Answer 1 · 2022-06-24T07:19:58+02:00

An application that must be provided regarding replacement of the existing insurance policy is A signed statement by the applicant regarding the replacement. Thus first option is correct.

What is Insurance Policy?

Insurance policy is an agreement between the insurer and the company which provides insurance services to bear the losses of the insurance at the time of the crises like situation.

At the time of the replacement of the Insurance Policy, The transactions of the replacement is conducted and the replacement of the existing policy must be duly signed by the applicants of the policy.

Learn more about Insurance policy here:

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