Medicare supplement policies and certificates shall have a notice printed prominently on the first page of the policy or certificate or attached to the policy stating that the applicant shall have the right to return the policy or certificate within thirty days of delivery and have the premium refunded if, after examination of the policy or certificate, the applicant is not satisfied for any reason. Any refund made pursuant to this section shall be paid in a timely manner directly to the applicant by the issuer.
History: Laws 1989, ch. 28, § 10; 1992, ch. 3, § 8.
The 1992 amendment, effective March 2, 1992, deleted "open contract" or "subscriber contract" following "policy" several times in the first sentence and substituted "issuer" for "insurer" in the second sentence.
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