Montana Code 33-22-1119. Right to return policy — free look — refunds upon denial of application
33-22-1119. Right to return policy — free look — refunds upon denial of application. (1) A long-term care insurance applicant and insured has the right to return the policy within 30 days of the policy’s delivery and to have the premium refunded if, after examination of the policy, the applicant or insured is not satisfied for any reason. A long-term care insurance policy must have a notice prominently printed on the first page of the policy or attached to the policy stating that the applicant or insured has the right to return the policy within 30 days of the policy’s delivery and to have the premium refunded if, after examination of the policy, other than a certificate issued to a group defined in 33-22-1107(5)(a), the applicant or insured is not satisfied for any reason.
Terms Used In Montana Code 33-22-1119
- Applicant: means :
(a)in the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and
(b)in the case of a group long-term care insurance policy, the proposed certificate holder. See Montana Code 33-22-1107
- Certificate: means a certificate issued under a group long-term care insurance policy that has been delivered or issued for delivery in this state. See Montana Code 33-22-1107
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Policy: means any policy, certificate, contract, membership contract, subscriber agreement, health care services agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, health service corporation, prepaid health plan, health maintenance organization, or similar organization. See Montana Code 33-22-1107
(2)An applicant or a person insured under a long-term care insurance policy issued pursuant to a direct response solicitation has the right to return the policy within 30 days of its delivery and to have the premium refunded if, after examination of the policy, the applicant or the insured is not satisfied for any reason. A long-term care insurance policy issued pursuant to a direct response solicitation must have a notice prominently printed on the first page or attached to it stating that the applicant or the insured has the right to return the policy within 30 days of its delivery and to have the premium refunded if, after examination of the policy, the applicant or the insured is not satisfied for any reason.
(3)If the application of a person for long-term care insurance is denied, any refund due the person must be refunded within 30 days of the denial or return of the application.