38.2-3604 - Free look notice required. - Virginia Statutes

§ 38.2-3604. Free look notice required.

Notwithstanding the provisions of § 38.2-3502, Medicare supplement policiesshall have printed on the policy a notice stating substantially: "RIGHT TORETURN POLICY WITHIN THIRTY DAYS. If for any reason you are not satisfiedwith your policy you may return this policy to the company within thirty daysof the date you received it and the premium paid will be promptly refunded."

A policy returned pursuant to the notice shall be void upon the mailing ordelivery of the policy to the insurer.

Nothing in this section shall prohibit an insurer from extending the right toexamine period to more than thirty days if the period is specified in thepolicy.

(1980, c. 204, § 38.1-362.13; 1981, c. 575; 1986, c. 562; 1989, c. 151.)