Through the years I have seen Life policy applications and agents' reports with erroneous information. You probably have, too. I don't mean judgment calls with room for honest disagreement; I mean downright wrong information. One of the most common untruths may be the statement that a new policy will not replace an existing policy, when in fact it will. The agent may save the trouble of bothering with replacement forms, but he or she also may be buying a big problem.

LEGAL OUTLINE FOR CALIFORNIA INSURANCE AGENCIES CHAPTER FIVE TRANSFERRING AGENCY INTERESTS BY SALE, ETC. 5.1 Objectives of buyers and sellers of agencies. In the typical ...