Who must sign the notice of replacement when a Medicare Supplement insurance policy is being replaced?

When a Medicare Supplement insurance policy is being replaced, it is essential that both the agent and the applicant sign the notice of replacement. This requirement is in place to ensure that the applicant is fully informed about the consequences of replacing their existing coverage and to provide a clear record that the agent has communicated this information. The agent's signature confirms that they have explained the proposal to the applicant, while the applicant's signature indicates their understanding and acceptance of the replacement policy. This dual-signature requirement helps protect the interests of the consumer and ensures transparency in the process of replacing insurance coverage.