Surrender and request for cancellation of policy. No policy of life insurance, other than an industrial life insurance policy, may be delivered or issued for delivery in this state unless it contains a provision, or a notice attached to the policy, which, in substance, states that during a period of 10 days from the date the policy is delivered to the policy owner, it may be surrendered to the insurer together with a written request for cancellation of the policy and in such event, the insurer will refund any premium paid therefor, including any policy fees or other charges.
Last modified: February 27, 2006