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Florida Administrative Code (Last Updated: April 18, 2024) |
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69. Department of Financial Services |
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69B. Division of Insurance Agent and Agency Services |
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69B-151. Requirements For Replacement Of Life And Health Coverage |
1The purpose of this rule chapter is:
8(1) To implement the provisions of Sections 15626.9521, 16626.9541, 17626.9611 18and 19626.9641, F.S., 21and such other laws of this state as may be applicable, with respect to the replacement of life insurance and related matters;
43(2) To regulate the activities of agents with respect to the replacement of existing life insurance;
59(3) To protect the interests of life insurance policyowners by establishing minimum standards of conduct to be observed in the replacement or proposed replacement of existing life insurance by:
88(a) Assuring that the policyowner receives information with which a decision can be made in his or her own best interests; and,
110(b) Reducing the opportunity for misrepresentation and incomplete disclosures.
119Rulemaking Authority 121624.308, 122626.9611, 123626.9641 FS. 125Law Implemented 127624.307(1), 128626.9521, 129626.9541 FS. 131History–New 7-9-81, Formerly 4-24.01, 4-24.10, 4-24.010, 4-151.001, Amended 12-31-15.
