At what point must an agent provide a replacement notice if life insurance policy replacement is involved?

The correct point at which an agent must provide a replacement notice during the process of life insurance policy replacement is no later than the application date. This requirement is in place to ensure transparency and protect consumers from potential confusion about their coverage options. Providing the replacement notice at this early stage allows the applicant to fully understand the implications of replacing an existing policy, including any potential loss of benefits or changes in coverage.

It's critical for agents to inform the client about the consequences of replacing a life insurance policy before the application is submitted to ensure that the client makes an informed decision. This protects the interests of consumers and promotes responsible insurance practices within the industry.