(1) Except as to nonrenewable accident policies, every individual health insurance policy shall contain a provision therein or in a separate rider attached thereto when delivered, stating in substance that the person to whom the policy is issued shall be permitted to return the policy within ten (10) days of its delivery to such person and have a refund of the premium paid if after examination of the policy the purchaser is not satisfied with it for any reason. If the provision is not printed on the face page or filing back of the policy, notice of the provision should be printed or stamped on the face page or filing back of the policy.
(2) The policy may be so returned to the insurer at its principal or branch office or to the agent through whom it was applied for, and thereupon shall be void as from the beginning and as if the policy had not been issued.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 17, sec. 17, effective June 18, 1970.