Wisconsin insurance law requires intermediaries to keep policyholder records for at least how many years after termination or lapse of the policy?

• A. One
• B. Three
• C. Five
• D. Ten

Answer: (B)

The requirement tests how long intermediaries must keep policyholder records after a policy ends. In Wisconsin, the mandated retention period is three years after termination or lapse. This duration gives enough time to handle late inquiries, disputes, or regulatory audits, and to preserve documentation of policy terms, payments, endorsements, and communications if questions arise later. One year would be too short to cover typical post-termination issues, while five or ten years exceed what's required for this specific rule. Therefore, three years is the appropriate retention window.