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Advisers who use written or printed communications in conversations with applicants must leave the originals with the applicant, and give the following notice to applicants:

"NOTICE REGARDING REPLACING YOUR LIFE INSURANCE POLICY OR ANNUITY?

"Are you thinking about buying a new life insurance policy or annuity and discontinuing or changing an existing one? If you are, your decision could be a good one – or a mistake. You will not know for sure unless you make a careful comparison of your existing benefits and the proposed benefits.

"Make sure you understand the facts. You should ask the company or agent that sold you your existing policy to give you information about it.

"Hear both sides before you decide. This way you can be sure you are making a decision that is in your best interest.

"We are required by law to notify your existing company that you may be replacing their policy."

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Applicant Agent Date

Insurance advisers or brokers who violate this article are liable for an administrative penalty of no less than $1,000 for the first violation.

30-Day Free Look

Insurance policies and certificates offered for sale to individuals age 65 or older in most states must provide a 30-day examination period after which the applicant may return the contract.


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