State RegulationsNC specificDifficulty 1/5
Under G.S. 58-51-10, an insured who buys an individual hospitalization policy in North Carolina may return it for a prompt refund of premium within how many days after receiving the policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-51-10, individual and family hospitalization policies must carry a notice that the insured may return the policy within 10 days of the date received for a prompt refund, and coverage is void when the policy is mailed or delivered back within that period. The 10-day right is the standard A&H return privilege.
Why the other options are wrong
- A) 20 days is the notice-of-claim window under G.S. 58-51-15(a)(5), not the return right.
- B) The statutory return period is 10 days under G.S. 58-51-10; five is not the figure.
- C) 30 days is the replacement-transaction return right under 11 NCAC 12 .0612(a)(4), not the standard hospitalization return right.
Memory hook
Ten days to send it back and coverage voids.