An Ohio producer is reviewing free-look requirements for individual sickness and accident policies. Which statement is correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
ORC 3923.31 requires that the notice of the policyholder's right to examine be prominently printed on the first page of the policy, and it expressly excludes single-premium nonrenewable policies from the free-look right. For all other individual sickness and accident policies, the right runs at least until midnight of the 10th day after receipt, with the per diem charge for pro rata policies and void-from-the-beginning treatment otherwise. The Ohio Department of Insurance treats both the first-page notice and the single-premium nonrenewable exception as examinable details of the right to examine.
Why the other options are wrong
- A) Placement is not optional: the statute requires the rights notice to be prominently printed on the first page of the policy.
- B) Single-premium nonrenewable policies get no free-look right at all under ORC 3923.31, let alone a longer one.
- C) The free look applies to individual sickness and accident policies generally; pro rata coverage only affects how the refund is calculated on return.
Memory hook
First page gives the right; single-premium nonrenewable skips it.