(1)(a) Forms required to be completed by the insurer by its licensed and appointed agent and provided to the applicant prior to or contemporaneous with the time the applicant signs any application for the purchase of an additional life insurance policy or annuity contract to be funded through the use of values accessed in an existing and in-force policy with that same insurer.
    (b) The agent is responsible for accurately completing any form required for each existing and in-force policy to be utilized as a funding source for the purchase of additional insurance contract(s). Any required replacement and sales forms must also be completed. One copy of any form completed as part of the transaction is to be delivered to the policyowner, one copy is to be maintained by the agent, and one copy is to be sent to the insurer.
    (2) Policy loan request forms, surrender value request forms, dividend withdrawal request forms or any other applicable service forms that are necessary to access the funds to be used as a funding source for the payment of premiums for the additional insurance policy shall be completed and executed in their entirety at the time of new policy application and after presentation of the completed replacement forms of the insurer and any policy comparison information.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 626.016(3), 626.9541(1)(aa) FS. History-New 2-19-96, Formerly 4-151.202, Amended 6-4-18.