Notice of right to return and right to premium refund printed in medicare supplement policies and certificates--Payment of refund.

1. Law
2. South Dakota Codified Laws
3. Insurance
4. Medicare Supplement Policies
5. Notice of right to return and right to premium refund printed in medicare supplement policies and certificates--Payment of refund.

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.

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