If an agent replaces a client's existing life insurance policy with a new one, what is advisable to do first?

Waiting until the new policy is issued and delivered is advisable because it ensures that the client has coverage in place before the existing policy is surrendered or canceled. This approach minimizes the risk of a lapse in coverage, which can occur if the existing policy is terminated before the new one is confirmed and in effect. It reflects the principle of responsible insurance practice, prioritizing the client's needs and ensuring their financial protection remains intact during the transition.

Taking action to surrender or cancel the existing policy before the new policy is finalized could leave the policyholder unprotected during the period when they are without insurance coverage. Hence, the focus on having the new policy issued and formally accepted before undertaking such actions is a crucial step in the replacement process.