L&HMImedium
Which document must a Michigan producer complete and sign with the applicant when a proposed transaction involves replacement of an existing life or annuity contract?
A Disclosure Statement listing all existing policies and identifying the transaction as a replacement
BA FINRA U-4 amendment naming the new insurer and disclosing all pending complaints within thirty days
CA DIFS Form B-1 surrender authorization
DA federal Form 1099-R election
Why this is the answer
Mich. Admin. Code R 500.601-635 requires the producer to complete a Disclosure Statement identifying every existing life or annuity contract that will be replaced, signed by both producer and applicant and submitted with the application.
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