Consent Documentation Requirements
Agents are required to document the receipt of consent from the consumer or their authorized representative.
Documentation of consent must include:
- A description of the scope, purpose, and duration of the consent
- The date consent was given
- The name of the consumer and, if applicable, the authorized representative
- The name of the agent or agency being granted consent
- The process through which the consumer or authorized representative may rescind consent
The record of consent must be maintained for a minimum of 10 years and provided to the Exchange upon the Exchange’s request.
Note: The Exchange has created an optional sample Consent Form, which is available on our website.
Agents are also required to take an action that produces a record demonstrating review and confirmation of accuracy of the enrollment application by the consumer or their authorized representative.
The record must include, at a minimum, the following information:
- The date the application information was reviewed
- The name of the consumer or authorized representative
- An explanation of the attestations at the end of the application
- The name of the assisting agent
This record of review and confirmation of accuracy must be maintained for 10 years and be provided to the Exchange upon the Exchange’s request.