Final answer:
The replacing insurer must notify the existing insurer of a life insurance policy replacement, with the timeframe varying by jurisdiction. The question incorrectly references the WARN Act, which pertains to employer notice requirements for plant closings or layoffs, not to insurance policy replacements.
Step-by-step explanation:
When replacing an existing life insurance policy, the replacing insurer is typically required to notify the existing insurer of the replacement. This is a regulatory measure intended to prevent potential lapses in coverage, misrepresentation, and other issues that could negatively impact the policyholder. However, the specifics of notification periods can vary by jurisdiction, and it's important to consult the local insurance regulations or the specific policy terms for accurate information. While this question seems to reference the WARN Act, which requires employers with more than 100 employees to provide written notice 60 days before plant closings or large layoffs, it's not directly related to life insurance policies. Insurance regulations related to the notification period of a replacing insurer will depend on local insurance laws and industry standards rather than employment-related legislation like the WARN Act.