19 Miss. Code. R. 2-2.05

Current through December 10, 2024

Rule 19-2-2.05 - Policy Receipt To Be Executed

Upon delivery, a policy receipt or acceptance form must be executed which recites that:

A. The face amount, premium payment frequency, and Periodic premium amount of the policy are as represented at the time of sale; and

B. The insured has examined the application and policy and acknowledges and understands the provisions and obligations of the financial indebtedness that he has incurred.

It shall be the responsibility of the company representative to read the policy receipt or acceptance form to the insured. In the event that delivery is made by use of the United States mail as in Rule 2.04 above, the company must request the insured to sign and return the policy receipt or acceptance form.

19 Miss. Code. R. 2-2.05

Miss. Code Ann. §§ 83-5-1; 83-5-29 (Rev. 2011)