L&HMIhard
A Michigan applicant signs a replacement life application on day 0; the existing insurer receives notice on day 4 and delivers an in-force illustration on day 25. The new policy is issued on day 35. When does the consumer's free-look on the new policy expire?
20 days after delivery of the new replacement policy
B30 days after the existing insurer received notice
C10 days after the existing insurer's conservation effort
DOn the same day the 30-day conservation period ends
Why this is the answer
The 20-day replacement free-look runs from delivery of the new policy and is independent of the 30-day conservation window run by the existing insurer; both protections operate in parallel rather than collapsing into a single deadline.
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