Texas General Lines — Life, Accident, Health and HMOGeneral InsuranceHard
A Texas resident purchases a new individual health insurance policy. According to Texas insurance law, what is the minimum 'free-look' period that must be provided for this policy?
- A31 days
- B10 days
- C15 days
- D20 days
Show answer & explanationAnswer & explanation
Correct answer: B. 10 days
Under Texas insurance law, the minimum free-look period for individual health insurance policies is 10 days. This allows the policyholder to review the policy and return it for a full refund if dissatisfied.
Why the other options are wrong
- A. 31 days is typically the free-look period for Medicare Supplement policies, not standard individual health insurance in Texas.
- C. 15 days is not the standard minimum free-look period for individual health policies in Texas.
- D. 20 days is not the standard minimum free-look period for individual health policies in Texas.
Texas Health Insurance Free-Look Period
In Texas, the minimum 'free-look' period for individual health insurance policies is 10 days, allowing the policyholder to return the policy for a full refund if not satisfied.
- 10-day minimum for individual health policies
- Policy can be returned for full premium refund
- Starts from policy delivery date
- Different periods may apply to other policy types (e.g., Medicare Supplement)
Memory trick: Texas Free-Look: Ten days to 'Tex' it out.