61A.58 DUTIES OF INSURERS WITH RESPECT TO DIRECT RESPONSE SALES.
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61A.58 DUTIES OF INSURERS WITH RESPECT TO DIRECT RESPONSE SALES.
(a)If in the solicitation of a direct response sale, the insurer did not propose the replacement, and a replacement is involved, the insurer shall send to the applicant with the policy or contract a replacement notice as described in section 61A.60, subdivision 2 , or other substantially similar form approved by the commissioner.
(b)If the insurer proposed the replacement, it shall:
(1)provide to applicants or prospective applicants with or as a part of the application a replacement notice as described in section 61A.60, subdivision 2 , or other substantially similar form approved by the commissioner;
(2)request from the applicant with or as part of the application, a list of all existing life insurance policies or annuity contracts to be replaced and properly identified by name of insurer and insured; and
(3)comply with the requirements of section 61A.57, paragraph
(b), clause (2), if the applicant furnishes the names of the existing insurers, and the requirements of section 61A.57 , paragraphs
(c)and (d), except that it need not index the replacement register by replacing agent.