How long must all replacement notifications be retained?

The correct duration for retaining all replacement notifications is five years or until the next examination. This requirement is grounded in the regulatory framework governing life insurance practices, which mandates that insurers maintain certain records for an adequate period to ensure transparency and accountability.

By retaining these notifications for five years, companies are able to provide evidence of compliance with replacement regulations and facilitate inspections by regulatory bodies during reviews. This retention period allows for an adequate timeframe for assessing practices, evaluating customer interactions, and ensuring that consumers are not adversely affected by any policy replacements.

Other options suggest shorter or longer retention periods that do not align with the established standards or regulatory requirements. This makes five years or until the next examination the most appropriate choice, reflecting a balance between record-keeping obligations and practical oversight.