Florida Regulations 69B-151.001: Purpose
Current as of: 2024 | Check for updates
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The purpose of this rule chapter is:
(1) To implement the provisions of sections 626.9521, 626.9541, 626.9611 and 626.9641, F.S., and such other laws of this state as may be applicable, with respect to the replacement of life insurance and related matters;
(2) To regulate the activities of agents with respect to the replacement of existing life insurance;
(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:
(a) Assuring that the policyowner receives information with which a decision can be made in his or her own best interests; and,
(b) Reducing the opportunity for misrepresentation and incomplete disclosures.
Rulemaking Authority 624.308, 626.9611, 626.9641 FS. Law Implemented 624.307(1), 626.9521, 626.9541 FS. History-New 7-9-81, Formerly 4-24.01, 4-24.10, 4-24.010, 4-151.001, Amended 12-31-15.
(1) To implement the provisions of sections 626.9521, 626.9541, 626.9611 and 626.9641, F.S., and such other laws of this state as may be applicable, with respect to the replacement of life insurance and related matters;
(2) To regulate the activities of agents with respect to the replacement of existing life insurance;
(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:
(a) Assuring that the policyowner receives information with which a decision can be made in his or her own best interests; and,
(b) Reducing the opportunity for misrepresentation and incomplete disclosures.
Rulemaking Authority 624.308, 626.9611, 626.9641 FS. Law Implemented 624.307(1), 626.9521, 626.9541 FS. History-New 7-9-81, Formerly 4-24.01, 4-24.10, 4-24.010, 4-151.001, Amended 12-31-15.