Life Insurance Laws

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Nonresident producer

Producer licensed in another state as a resident and solicits ins. in PA (or any other state)

what is considered interstate travel

Puerto Rico

coercion

use of force or intimidation

No producer's license will be revoked until

they have afforded a right to a hearing on the charges

How soon after passing ins. exam must the license app. be submitted to PA Ins. Dept.?

1 year

How long is the free look period?

10 days

Max. prison sentence for unfair and deceptive ins. practice

15 years

In Pa, payment on accelerated DB may not be less than___ of DB?

25%

How soon after an address change must a licensee notify the commissioner

30 days

Insurable interest may exist in each other's lives in absence of a economic interest when individuals are

marriage partners

Twisting

misrepresenting a policy for the purpose of inducing a policyholder to change or replace an existing policy

What is the PA Ins. Dept. not responsible for

shareholders


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