Please remember that all states have regulations governing replacement and/or churning activity. Replacement regulations require additional paperwork to be provided to the applicant/annuitant and submitted with the application. Failure to comply with regulatory requirements will result in processing delays for you and your client(s).
In addition, the Genworth companies (Genworth) have adopted and published a Replacement Policy that details the company’s position on replacement activity. To read the policy in its entirety, click the link below: