Section 26-A215. LIFE INSURANCE APPLICATIONS TO A SECOND COMPANY

 

215.1If a licensed life insurance agent submits a proposal to his or her own company which is rated "declined" or "postponed", the agent may, with the consent of his or her own company and without being licensed with the second company, submit and procure the proposal from a second company.

 

215.2If a licensed life insurance agent submits a proposal to his or her own company which issues part of the insurance applied for at standard rates, the agent may, with the consent of his or her own company and without being licensed with the second company, submit and procure a proposal from a second company.

 

215.3If a licensed life insurance agent submits a proposal to a prospect from his or her own company which underwrites insurance with Military exclusions, the agent shall not, even with the consent of his or her own company, submit and procure a proposal of a second company without being licensed by the second company.

 

215.4If a licensed life insurance agent submits a proposal to a prospect from his or her own company which underwrites a certain fixed amount of insurance without Military restrictions, and any excess with-certain Military restrictions, the agent shall not, even with the consent of his or her own company, submit and procure a proposal from a second company without being licensed by the second company.

 

215.5If a licensed life insurance agent submits a proposal to a prospect for a form of insurance from his or her own company whose underwriting rules does not include that form or plan of insurance, the agent may, with the consent of his or her own company and without being licensed by the second company, submit and procure a proposal from a second company.