Okla. Stat. tit. 36, § 36-4035: Notice to applicants regarding replacement of life

insurance or annuity.

The notice referred to in the Life Insurance and Annuity

Policyholders Protection Act shall be delivered to the applicant for

a replacement life insurance policy or a replacement annuity policy.

The legal name and address of the replacing insurer may be printed

on the notice. Said notice shall be in substance as follows:

NOTICE TO APPLICANTS REGARDING REPLACEMENT OF LIFE INSURANCE OR

AN ANNUITY. THIS NOTICE IS FOR YOUR BENEFIT AND IS REQUIRED BY LAW.

1. If you are urged to purchase life insurance and to

surrender, lapse, or in any other way change the status of existing

life insurance, the agent is required to give you this notice.

2. It may not be advantageous to drop or change existing life

insurance in favor of new life insurance, whether issued by the same

or a different insurance company. Some of the disadvantages are:

a. The amount of the annual premium under an existing

policy may be lower than that under a new policy having the same or

similar benefits.

b. Generally, the initial costs of life insurance policies

are charged against the cash value increases in the earlier policy

years, the replacement of an old policy could result in the

policyholder sustaining the burden of these costs twice.

c. The incontestable and suicide clauses begin anew in a

new policy. This could result in a claim under a new policy being

denied by the company which would have been paid under the old

policy.

d. Existing policies may have more favorable provisions

than new policies in such areas as settlement options and disability

benefits.

e. An existing policy may have a reserve value in addition

to any cash value which may be of some benefit to the insured.

f. The insurance company carrying your current insurance

policy can often make a desired change on terms which would be more

favorable than if existing insurance is replaced with new insurance.

3. It may not be advantageous to change an existing policy to

reduced paid-up or extended term insurance or to borrow against its

loan value beyond your expected ability or intention to repay in

order to obtain funds for premiums on a new policy.

4. There may be a situation in which a replacement policy is

advantageous. You may want to receive the comments of the present

insurance company before deciding this important financial matter.

I hereby acknowledge that I received the above "Notice to Applicants

Regarding Replacement of Life Insurance or an Annuity" before I

signed the application for the proposed new insurance.

_______________________ ________________________

Date Signature of Applicant

Subparagraph c of paragraph 2 of this section shall be in 12-point

type.