Final answer:
According to Florida's life insurance replacement laws, a written comparison and summary statement must be provided when the policy owner, who is the most informed about their individual risk factors, requests it.
Step-by-step explanation:
According to Florida's life insurance replacement laws, a policy owner must be provided with a written comparison and summary statement when it's requested by the policy owner, which is indicated in option C. The law stipulates that the policy owner has the right to receive important information that could affect their decision when considering the replacement of an existing policy. This transparency is crucial as insurance companies typically have much less information about the individual risks of their policyholders who are more familiar with their personal health or driving histories, for instance. Such information asymmetry can influence the insurance coverage and terms. Additionally, it is worth noting that life insurance companies can accumulate significant amounts of cash through premiums, which they may lend or allow policyholders to borrow against their policies, with the borrowed amount plus interest to be repaid back to the company.