Under 50 Ill. Adm. Code 917.60, the producer is required to deliver to the applicant which document at or before the time the application is signed in a replacement transaction?

Why this is the answer

Section 917.60 mandates that in any transaction involving the replacement of existing life insurance or annuity contracts, the producer must present, read, and deliver to the applicant the Notice Regarding Replacement of Life Insurance and Annuities. Both the applicant and the producer must sign the notice, and a copy must be left with the applicant. The notice alerts the consumer to potential disadvantages of replacement and triggers the conservation and disclosure timelines elsewhere in Part 917.