Notwithstanding the provisions of § 38.2-3502, Medicare supplement policies shall have printed on the policy a notice stating substantially: "RIGHT TO RETURN POLICY WITHIN THIRTY DAYS. If for any reason you are not satisfied with your policy you may return this policy to the company within thirty days of 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 or delivery of the policy to the insurer.
Nothing in this section shall prohibit an insurer from extending the right to examine period to more than thirty days if the period is specified in the policy.
1980, c. 204, § 38.1-362.13; 1981, c. 575; 1986, c. 562; 1989, c. 151.
Structure Code of Virginia
Chapter 36 - Medicare Supplement Policies
§ 38.2-3600. Medicare supplement policy; definition
§ 38.2-3601. Medicare supplement policies; minimum return for group policies generally
§ 38.2-3603. Same; minimum return for individual policies
§ 38.2-3604. Free look notice required
§ 38.2-3605. Coverage of preexisting conditions; Medicare supplement policies
§ 38.2-3606. Outline of coverage
§ 38.2-3607. Group or individual Medicare supplement policies; minimum standards
§ 38.2-3608. Regulations establishing minimum standards
§ 38.2-3609. Insurer to file copy of advertisement with Commission
§ 38.2-3610. Medicare supplement policies for persons eligible by reason of disability