33-15-415. Notice of right to return policy. Each individual life or disability insurance policy, except a single-premium nonrenewable disability policy, issued for delivery in this state or issued after January 1, 1996, must contain a notice stating in substance that if the person to whom the policy is issued is not satisfied for any reason, the person may return the policy within 10 days of its delivery or a longer period if provided by the policy and have refunded directly to the person the premium paid. A policy returned pursuant to this section is void from the beginning.
History: En. Sec. 75, Ch. 379, L. 1995.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 15. The Insurance Contract
Part 4. Application, Issuance, Renewal, Assignment, and Return
33-15-401. Application required -- life and disability insurance
33-15-402. Application as evidence -- copy to insured -- alteration
33-15-404. through 33-15-410 reserved
33-15-411. Binders for temporary insurance
33-15-413. Renewal by certificate
33-15-415. Notice of right to return policy
33-15-416. Dating of insurance applications -- antedating prohibited