627.4605 Replacement notice.
627.4605 Replacement notice.
A notice to a current insurer of a replacement of a current life insurance policy is not required in a transaction involving:
(1) An application to the current insurer that issued the current policy or contract when a contractual change or conversion privilege is being exercised;
(2) A current policy or contract 1that is being replaced by the same insurer pursuant to a program filed with and approved by the office; or
(3) A term conversion privilege 1that is being exercised among corporate affiliates.
History. s. 2, ch. 2010-61.
1
Note. The word “that” was inserted by the editors.