Delivering the policy

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Buyer's Guide

(Generic information) about life insurance policies that contains, and is limited to, language approved by the department of insurance. It also explains how a buyer should go about choosing the amount and type of insurance to buy

Anti-Money Laundering (AML)

Requires the monitoring of all financial transactions, and reporting of any suspicious activity to the government, along with prohibiting corresponding accounts with foreign shell banks

Suspicious Activity Report (SAR)

SAR rules state that procedures and plans must be in place and designed to identify activity that one with team, suspicious of money, laundering, terrorist financing, or other illegal activities

What is the timeframe for filing relevant Suspicious Activity Reports?

Within 30 days of INITIAL DISCOVERY

Illustration

a presentation or depiction that includes nonguaranteed elements of a policy of individual or group life insurance over a period of years

Policy Summary

a written statement describing the features and elements of the policy being issued (Specific info)


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