Arizona Laws 20-1691.07. Right to return
A. A person insured under a long-term care insurance policy or certificate 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, the insured person is not satisfied for any reason. Long-term care insurance policies or certificates shall have a notice prominently printed on or attached to the first page stating in substance that the insured person 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 the insured person is not satisfied for any reason.
Terms Used In Arizona Laws 20-1691.07
- Certificate: means a certificate issued under a group long-term care insurance policy, which has been delivered or issued for delivery in this state. See Arizona Laws 20-1691
- Long-term care insurance: means an individual or group insurance policy or rider issued by insurers, fraternal benefit societies, nonprofit health, hospital and medical service corporations, prepaid health plans, health care services organizations or any similar organization and advertised, marketed, offered or designed to provide coverage for each covered person on an expense-incurred, indemnity, prepaid or other basis for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, personal or custodial care services provided in a setting other than an acute care unit of a hospital. See Arizona Laws 20-1691
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Policy: means an individual or group policy, contract, subscriber agreement, rider or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, nonprofit health, hospital or medical service corporation, prepaid health plan or health care services organization or any similar organization. See Arizona Laws 20-1691
B. The insurer shall return any premium refund made pursuant to this section to the insured within thirty days of the insurer’s receipt of the returned long-term care insurance policy or certificate.