Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
Which items does Florida require an agent's pre-surrender disclosure to address?
Answer and explanation
Answer: D. Section 627.4553 names the amount of any estimated surrender charge, the loss of any minimum interest rate guarantees, and the possibility of tax consequences among the matters the written disclosure must cover. Commission, insurer ratings, and a computation of the client's tax bracket are not what the section specifies.Source: Fla. Stat. § 627.4553 — 627.4553, Contents of the disclosure
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
- Does Florida's statutory grace period apply to the very first premium on a life policy?
- Florida's secondary addressee protection against inadvertent lapse applies to a life policy covering a natural person of what age?
- For an annuity issued to a Florida consumer aged 70, when must the surrender or deferred sales charge be eliminated altogether?
- For how long must executed Policy Disclosure Forms be maintained under the Florida replacement rule?
- Group life proceeds are payable to a named beneficiary of a Florida insured who died owing debts. How does the creditor exemption apply?
- How does the exception for nonpayment of premium work under Florida's incontestability provisions?
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