Exceptions to the legal definition of replacement generally include

$$ A$)$ use of policy loans to fund the purchase of a new policy.

O B$)$ use of automatic premium loans to pay the premiums on an existing policy to free up premium dollars for the purchas

policy.

C$)$ an existing policy is reduced in value or used to fund another life insurance policy of the same insurance company.

$$ D$)$ group life or group annuities where no direct solicitation is used by a producer.