State RegulationsCO specificDifficulty 2/5
A Denver insurer issues a new individual life policy. Under C.R.S. § 10-7-302(1)(g), what notice must appear on the FIRST PAGE of the policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
C.R.S. § 10-7-302(1)(g) requires the first page of every life policy to carry notice that the policyholder may return the policy within 15 days of delivery for a refund of premium. Placing the notice on the first page ensures the free-look right is disclosed to the owner at delivery, not buried in the policy text.
Why the other options are wrong
- A) The 25-day mailing rule is the lapse notice requirement under C.R.S. § 10-7-105.5, not the first-page free-look notice.
- C) The suicide limitation period is not a required first-page notice under C.R.S. § 10-7-302(1)(g).
- D) Replacement recordkeeping is a producer and insurer record duty under Colorado Insurance Regulation 4-1-4, not a first-page policy notice.
Memory hook
First page, 15 days, refund of premium.