State RegulationsFL specificDifficulty 3/5
A policyowner in Tampa receives a newly delivered Florida long-term care policy and decides to return it for a refund. Under Florida law, the free-look period for a long-term care policy runs for how long, and from what starting point?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Fla. Stat. 627.9407(8), a Florida long-term care policy must provide a free-look period of 30 days after delivery, during which the insured may return the policy for a refund of premium. Note the trigger carefully: for LTC the clock runs from delivery, unlike the Medicare supplement free look, which runs 30 days from receipt of the policy under Fla. Stat. 627.674(4)(d), a classic exam distinction.
Why the other options are wrong
- A) The Medicare supplement free look runs 30 days from receipt under a different statute; the LTC clock is keyed to delivery under Fla. Stat. 627.9407(8).
- B) 14 days is tied to the Buyer's Guide delivery condition for ordinary life policies under Fla. Stat. 626.99(4)(a), not to long-term care.
- D) 21 days is the unconditional refund period for annuities under Fla. Stat. 626.99(4)(b) and (c), not the LTC free-look period.
Memory hook
LTC free look: 30 days after delivery, not receipt.