Purpose

Section 917 Section 917.20  Purpose The purpose of this Part is: a)         To regulate the activities of insurers and insurance producers  with respect to the replacement of existing life insurance or annuities; b)         To protect the interests of life insurance and annuity policyowners by establishing minimum standards of conduct to be observed in the replacement or proposed replacement of existing life insurance by: 1)         Assuring that the policyowner receives information with which a decision can be made in his or her own best interest; 2)         Reducing the opportunity for misrepresentation and incomplete disclosures.