State RegulationsNJ specificDifficulty 1/5
Under New Jersey's Medicare supplement rules, how long is the examination (free-look) period during which a Medigap buyer may return the policy for a refund?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
N.J.S.A. 17B:26A-8 and N.J.A.C. 11:4-16.6(c) give Medicare supplement buyers a 30-day examination period: the policy may be returned within 30 days for a full refund. This is longer than the 10-day free look that ordinary individual health policies carry, reflecting the senior market the Medigap rules protect. The New Jersey Department of Banking and Insurance administers these standards.
Why the other options are wrong
- A) 10 days is the free look for ordinary individual health policies, not Medigap.
- B) 7 days is the weekly-mode grace period under N.J.S.A. 17B:26-6, unrelated to the Medigap examination period.
- D) 31 days is the grace period for premium modes other than weekly and monthly under N.J.S.A. 17B:26-6, not the Medigap return window.
Memory hook
Medigap buyers get double time: 30 days to examine and return.