A 72-year-old Illinois consumer is replacing a 6-year-old deferred annuity with a new indexed annuity. Which combination of Illinois regulatory requirements applies in addition to the producer's general code-of-conduct duties?

Why this is the answer

Illinois layers two regulatory regimes on this transaction. Part 917 governs the mechanics of the replacement — disclosure notice, 5-day notice to existing insurer, 20-day conservation, and 20-day free-look. Part 3120 imposes a best-interest standard on annuity recommendations, including producer training and documented suitability analysis. Both apply, and senior consumers receive enhanced scrutiny under Part 3120.