Exams / Florida Life Insurance License / Fla. Stat. §627.4605
Fla. Stat. §627.4605 — what it says, and how the exam tests it
This section is cited by 4 of our practice questions and is tested on 4 exams including the Florida Life Insurance License.
The text
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 that is being replaced by the same insurer pursuant to a program filed with and approved by the office; or (3) A term conversion privilege that is being exercised among corporate affiliates.
Public record. Read the full, current section at the official source: www.leg.state.fl.us
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Fla. Stat. §627.4605, a replacement notice to the current insurer is NOT required when a current policy is being replaced by the same insurer pursuant to a program that has been:
drill Florida Statutes, Rules and Regulations Pertinent to Life and Annuity → - Under Fla. Stat. §627.4605, which of the following transactions does NOT require a replacement notice to the current insurer?
drill Florida Statutes, Rules and Regulations Pertinent to Life and Annuity → - A policyholder applies to the insurer that issued the current life insurance policy and exercises a contractual change privilege. Under Florida law, what is required regarding replacement notice?
drill Florida Statutes, Rules and Regulations Pertinent to Life and Annuity →