State RegulationsGA specificDifficulty 1/5
A Georgia resident in Savannah buys a Medicare supplement policy. After the policy is delivered, she decides she does not want it. Within how many days of delivery may she return the policy for a full refund of premium?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under O.C.G.A. § 33-43-6, every Medicare supplement policy delivered in Georgia must carry a notice prominently printed on the first page stating that the applicant may return the policy within 30 days of delivery for a full refund of premium. This Medicare supplement free look is intentionally longer than the 10-day individual life free look, giving older applicants extra time to compare the coverage against their Medicare benefits.
Why the other options are wrong
- A) 10 days is the free-look period for individual life policies under O.C.G.A. § 33-25-8, not for Medicare supplement policies, which allow 30 days from delivery.
- C) 20 days is the NAIC-model free-look figure taught by some prep vendors; Georgia's Medicare supplement free look is 30 days, not 20.
- D) 60 days is double the statutory period; the Georgia Medicare supplement free look runs 30 days from delivery under O.C.G.A. § 33-43-6.
Memory hook
Medigap gets a full month: 30 days to send it back for every premium dollar.