L&HOhiohard
An Ohio 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 delivered on day 40. When does the consumer's free-look on the new replacement policy expire?
A30 days after the existing insurer received notice
30 days after delivery of the new replacement policy
C10 days after the existing insurer's conservation effort
DOn the same day the 30-day conservation period ends
Why this is the answer
Under OAC 3901-6-05 the 30-day replacement free-look runs from delivery of the new policy and is independent of the existing insurer's 30-day conservation window; both protections operate in parallel.
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