PassSprint
State RegulationsNJ specificDifficulty 2/5

A Medigap policyholder returns the policy on day 20 of the 30-day examination period and asks for her money back. What is she entitled to?

Select an option to reveal the answer and the full 3-part explanation — free, no signup.

Answer & full 3-part explanation (select an option above, or peek)

Why C is correct

Under N.J.S.A. 17B:26A-8 and N.J.A.C. 11:4-16.6(c), a Medicare supplement policy returned during the 30-day examination period earns a full refund of the premium paid. Day 20 is still inside the window, so the buyer gets every dollar back and the coverage is undone. The right is unconditional, and the New Jersey Department of Banking and Insurance enforces it.

Why the other options are wrong

  • A) No portion of the premium is retained; the rule requires a full refund.
  • B) The 30-day examination window is still open on day 20, so the return is timely.
  • D) The examination-period right is unconditional; the buyer need not show the producer misled her.

Memory hook

Day 20 of 30? Still timely — every dollar comes back.

Related Practice Questions