---
title: "What Is Replacement Regulation? Definition | Epic Life Glossary"
description: "Replacement regulation is a set of state rules that apply when a new life insurance policy or annuity replaces an existing one. Agents must give..."
url: https://epicline.preview.multisites.ai/glossary/replacement-regulation
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Compliance and regulation

# Replacement Regulation

Replacement regulation is a set of state rules that apply when a new life insurance policy or annuity replaces an existing one. Agents must give disclosures and notify the old insurer.

## Why it matters

Replacing a policy can cost money. A new policy may restart the contestability period, bring higher premiums because of age, and add new surrender charges or fees. The NAIC model regulation, adopted in some form by many states, aims to make sure the consumer compares both policies. Families should not cancel an old policy until the new one is approved and in force. Rules differ by state.

Source: [naic.org](https://content.naic.org/sites/default/files/model-law-613.pdf)

[Read next, for familiesCan you still get life insurance over 70? Options that still work](https://epicline.preview.multisites.ai/guides/life-insurance-over-70)

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