§ 48.20.013. Return of policy and refund of premium -- Notice required -- Effect of return
Every individual disability insurance policy issued after January 1, 1968, except single premium nonrenewable policies, shall have printed on its face or attached thereto a notice stating in substance that the person to whom the policy is issued shall be permitted to return the policy within ten days of its delivery to the purchaser and to have the premium paid refunded if, after examination of the policy, the purchaser is not satisfied with it for any reason. An additional ten percent penalty shall be added to any premium refund due which is not paid within thirty days of return of the policy to the insurer or agent. If a policy holder or purchaser pursuant to such notice, returns the policy to the insurer at its home or branch office or to the agent through whom it was purchased, it shall be void from the beginning and the parties shall be in the same position as if no policy had been issued.
[1983 1st ex.s. c 32 § 9; 1967 c 150 § 26.]
RCW 48.20.013
Every individual disability insurance policy issued after January 1, 1968, except single premium nonrenewable policies, shall have printed on its face or attached thereto a notice stating in substance that the person to whom the policy is issued shall be permitted to return the policy within ten days of its delivery to the purchaser and to have the premium paid refunded if, after examination of the policy, the purchaser is not satisfied with it for any reason. An additional ten percent penalty shall be added to any premium refund due which is not paid within thirty days of return of the policy to the insurer or insurance producer. If a policy holder or purchaser pursuant to such notice, returns the policy to the insurer at its home or branch office or to the insurance producer through whom it was purchased, it shall be void from the beginning and the parties shall be in the same position as if no policy had been issued.
[2008 c 217 § 21; 1983 1st ex.s. c 32 § 9; 1967 c 150 § 26.]
Notes:
Severability -- Effective date -- 2008 c 217: See notes following RCW 48.03.020.
Sections: Previous 48.20.002 48.20.012 48.20.013 48.20.015 48.20.022 48.20.025 48.20.028 48.20.029 48.20.032 48.20.042 48.20.050 48.20.052 48.20.062 48.20.072 48.20.082 Next
Last modified: April 7, 2009