Which of the following is NOT considered to be an element of replacement?

Insurance

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Which of the following is NOT considered to be an element of replacement?

A) The agent knows a new policy will take the place of an existing policy.

B) An existing policy is subjected to a loan of 10% of its value.

C) An existing policy is allowed to lapse.

D) An existing policy is reissued with a reduced cash value.

Answer: B) An existing policy is subjected to a loan of 10% of its value.

The above question Which of the following is NOT considered to be an element of replacement?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.