LegalFix
Sign In

§ 58-17A-8 Notice of right to return and right to premium refund printed in medicare supplement policies and certificates--Payment of refund.

SD Codified L § 58-17A-8 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

58-17A-8. Notice of right to return and right to premium refund printed in medicare supplement policies and certificates--Payment of refund. Medicare supplement policies and certificates shall have a notice prominently printed on the first page of the policy or attached thereto stating in substance that the applicant shall have the right to return the policy or certificate within thirty days of its delivery and to 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 directly to the applicant by the issuer within thirty days of receipt of the returned policy.

Source: SL 1982, ch 360, § 8; SL 1989, ch 431, § 8; SL 1992, ch 347, § 9.

Previous Section
§ 58-17A-7 Health insurance policies--Requirements for information regarding medicare coverage.
Next Section
§ 58-17A-8.1 Issuance of policies by insurance company, nonprofit hospital service plan, medical service corporation, or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.