A policyholder in Michigan returns her individual LTC policy within the statutory return window. What must the insurer give her under M.C.L. 500.3943?

Why D is correct

M.C.L. 500.3943, in Michigan's LTC chapter, gives the purchaser of an individual long-term care policy the right to return the policy within 30 days after delivery for a full premium refund. The word 'full' is the operative term: the insurer must return all premiums paid, without deducting policy fees, administrative charges, or a pro-rata discount for the days of coverage. The Michigan Department of Insurance and Financial Services (DIFS) treats the notice of this right, printed on the policy's first page and in the summary of coverage, as part of the same protection.

Why the other options are wrong

• A) Deducting a policy fee or administrative charges would make the refund something less than the full refund the statute requires.
• B) A pro-rata refund is a cancellation mechanic, not the statutory return right, which restores every premium paid.
• C) The statute provides a full refund of premiums; it does not add interest on top for a timely returned policy.

Memory hook

Return it in time, get it ALL back: full means nothing clipped off.