§431:10-214  Right to return policy. (a)  There shall be printed on or attached to every individual life insurancepolicy and every individual accident and health or sickness insurance policyissued for delivery in this State a notice in ten-point bold type stating insubstance that the person to whom the policy is issued is entitled to returnthe policy or contract within ten days of its receipt by the purchaser and tohave the premium paid refunded if the purchaser is not satisfied with it forany reason.  If, pursuant to such notice, a purchaser mails or delivers thepolicy to the company or association at its home or branch office or to theproducer through whom it was purchased, it shall be void from the beginning andthe parties shall be in the same position as if no policy had been issued. Whenan individual life insurance policy is mailed or delivered by the purchaserwithin the ten-day period, the insurer may be reimbursed for the actual medicalexamination expenses incurred in processing the policy or contract, providedthe foregoing notice includes a statement to this effect.

(b)  This section shall not apply to singlepremium nonrenewable policies or travel accident policies. [L 1987, c 347, ptof §2; am L 2002, c 155, §44]