Unless the power of attorney otherwise provides, language in a power ofattorney granting general authority with respect to insurance and annuitiesauthorizes the agent to:
1. Continue, pay the premium or make a contribution on, modify, exchange,rescind, release, or terminate a contract procured by or on behalf of theprincipal that insures or provides an annuity to either the principal oranother person, whether or not the principal is a beneficiary under thecontract;
2. Procure new, different, and additional contracts of insurance andannuities for the principal and the principal's spouse, children, and otherdependents, and select the amount, type of insurance or annuity, and mode ofpayment;
3. Pay the premium or make a contribution on, modify, exchange, rescind,release, or terminate a contract of insurance or annuity procured by theagent;
4. Apply for and receive a loan secured by a contract of insurance or annuity;
5. Surrender and receive the cash surrender value on a contract of insuranceor annuity;
6. Exercise an election;
7. Exercise investment powers available under a contract of insurance orannuity;
8. Change the manner of paying premiums on a contract of insurance or annuity;
9. Change or convert the type of insurance or annuity with respect to whichthe principal has or claims to have authority described in this section;
10. Apply for and procure a benefit or assistance under a statute orregulation to guarantee or pay premiums of a contract of insurance on thelife of the principal;
11. Collect, sell, assign, hypothecate, borrow against, or pledge theinterest of the principal in a contract of insurance or annuity;
12. Select the form and timing of the payment of proceeds from a contract ofinsurance or annuity; and
13. Pay, from proceeds or otherwise, compromise or contest, and apply forrefunds in connection with, a tax or assessment levied by a taxing authoritywith respect to a contract of insurance or annuity or its proceeds orliability accruing by reason of the tax or assessment.
Unless the power of attorney otherwise provides, language in a power ofattorney granting general authority with respect to insurance and annuitiesauthorizes the agent to:
1. Continue, pay the premium or make a contribution on, modify, exchange,rescind, release, or terminate a contract procured by or on behalf of theprincipal that insures or provides an annuity to either the principal oranother person, whether or not the principal is a beneficiary under thecontract;
2. Procure new, different, and additional contracts of insurance andannuities for the principal and the principal's spouse, children, and otherdependents, and select the amount, type of insurance or annuity, and mode ofpayment;
3. Pay the premium or make a contribution on, modify, exchange, rescind,release, or terminate a contract of insurance or annuity procured by theagent;
4. Apply for and receive a loan secured by a contract of insurance or annuity;
5. Surrender and receive the cash surrender value on a contract of insuranceor annuity;
6. Exercise an election;
7. Exercise investment powers available under a contract of insurance orannuity;
8. Change the manner of paying premiums on a contract of insurance or annuity;
9. Change or convert the type of insurance or annuity with respect to whichthe principal has or claims to have authority described in this section;
10. Apply for and procure a benefit or assistance under a statute orregulation to guarantee or pay premiums of a contract of insurance on thelife of the principal;
11. Collect, sell, assign, hypothecate, borrow against, or pledge theinterest of the principal in a contract of insurance or annuity;
12. Select the form and timing of the payment of proceeds from a contract ofinsurance or annuity; and
13. Pay, from proceeds or otherwise, compromise or contest, and apply forrefunds in connection with, a tax or assessment levied by a taxing authoritywith respect to a contract of insurance or annuity or its proceeds orliability accruing by reason of the tax or assessment.
Unless the power of attorney otherwise provides, language in a power ofattorney granting general authority with respect to insurance and annuitiesauthorizes the agent to:
1. Continue, pay the premium or make a contribution on, modify, exchange,rescind, release, or terminate a contract procured by or on behalf of theprincipal that insures or provides an annuity to either the principal oranother person, whether or not the principal is a beneficiary under thecontract;
2. Procure new, different, and additional contracts of insurance andannuities for the principal and the principal's spouse, children, and otherdependents, and select the amount, type of insurance or annuity, and mode ofpayment;
3. Pay the premium or make a contribution on, modify, exchange, rescind,release, or terminate a contract of insurance or annuity procured by theagent;
4. Apply for and receive a loan secured by a contract of insurance or annuity;
5. Surrender and receive the cash surrender value on a contract of insuranceor annuity;
6. Exercise an election;
7. Exercise investment powers available under a contract of insurance orannuity;
8. Change the manner of paying premiums on a contract of insurance or annuity;
9. Change or convert the type of insurance or annuity with respect to whichthe principal has or claims to have authority described in this section;
10. Apply for and procure a benefit or assistance under a statute orregulation to guarantee or pay premiums of a contract of insurance on thelife of the principal;
11. Collect, sell, assign, hypothecate, borrow against, or pledge theinterest of the principal in a contract of insurance or annuity;
12. Select the form and timing of the payment of proceeds from a contract ofinsurance or annuity; and
13. Pay, from proceeds or otherwise, compromise or contest, and apply forrefunds in connection with, a tax or assessment levied by a taxing authoritywith respect to a contract of insurance or annuity or its proceeds orliability accruing by reason of the tax or assessment.
