This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam.

In this episode you will learn:

• How replacement is defined including policy loans and value reductions

• The mandatory timing for the Notice to Applicant Regarding Replacement form

• The impact of replacement on contestability and suicide clause periods

• The duties of the replacing insurer and the conservation rights of the existing insurer

• Why replacement policies carry an extended free-look period for consumer protection

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep