State RegulationsMI specificDifficulty 2/5
A Michigan insurer has decided not to renew a renewable individual accident and health policy. How much advance notice of the intent not to renew must the insurer give the policyowner under M.C.L. 500.3410?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
M.C.L. 500.3410 pairs the mode-based grace periods with a renewal protection: for renewable accident and health policies, the insurer must give 5 days' prior notice of its intent not to renew. This short notice duty keeps the policyowner informed before coverage ends at renewal.
Why the other options are wrong
- A: 31 days is the grace period for modes other than weekly and monthly, not the nonrenewal notice.
- B: 20 days is the notice-of-claim period for covered losses.
- C: 10 days is the monthly-mode grace period and the standard free-look period, not the nonrenewal notice.
Memory hook
5 days' heads-up before the renewal door closes.