It is the opinion of the Director that it will be in the public interest and of benefit to all if the person to whom the policy is issued has the opportunity to return the policy if he is not satisfied with it, provided such return is made within a reasonable length of time after receipt of the policy; therefore, each and every company issuing or issuing for delivery a disability policy in this state is requested to have printed or stamped thereon or attached thereto a notice in a prominent place stating in substance that the person to whom the policy or contract is issued shall be permitted to return the policy or contract within ten (10) days of its delivery to said purchaser and to have the premium paid refunded if, after examination of the policy or contract, the purchaser is not satisfied with it for any reason. The notice may provide that if the insured or purchaser pursuant to such notice returns the policy or contract to the insurer at its home office 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 or contract had been issued. This rule shall not apply to either single premium non-renewable policies or contracts or travel accident policies or contracts. Notices in this Rule 69O-154.003 and in Fl. Admin. Code R. 69O-154.001, may be combined.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 626.9541(1), 627.421 FS. History-New 12-24-74, Formerly 4-8.03, 4-8.003, 4-154.003.