Section 3.9504 - Consumer Notice Regarding Replacement for Insurers Using Agents(a) An agent who initiates an application for a life insurance policy or annuity contract shall submit to the insurer, with or as part of the application, a statement signed by both the applicant and the agent as to whether the applicant has existing life insurance policies or annuity contracts.(b) If the applicant states that the applicant does have existing policies or contracts, the agent shall present and read to the applicant, not later than at the time of taking the application, a notice regarding replacement that contains the text contained in Figure: 28 TAC § 3.9504(b), or substantially similar notice filed with the department and approved under this subchapter. The notice shall be signed by both the applicant and the agent attesting that the notice has been read aloud by the agent or that the applicant did not wish the notice to be read aloud, in which case the agent is not required to read the notice aloud. Attached Graphic
28 Tex. Admin. Code § 3.9504
The provisions of this §3.9504 adopted to be effective December 27, 2007, 32 TexReg 9690