Short answer: Montana individual life policies must state that you may return the policy within 10 days of delivery (or longer if the policy allows) and have the premium refunded directly to you. MCA 33-20-104 requires a 30-day grace period for premiums after the first.
This guide is general consumer information for Montana life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Right to return
MCA 33-15-415 requires covered policies delivered or issued after January 1, 1996, to carry a notice that if you're not satisfied for any reason, you may return the policy within 10 days of delivery (or a longer period if the policy provides) and have the premium refunded directly to you. A returned policy is void from the beginning.
Grace period
MCA 33-20-104 requires a grace period of 30 days (or one month of not less than 30 days; four weeks for certain industrial policies) for any premium after the first.
Using Montana CSI resources
The Montana Commissioner of Securities and Insurance publishes consumer life-insurance materials alongside the statutes linked above—use those pages when you compare illustrations and free-look rights.
Insurer financial strength
For regulator help with insurer financial strength or solvency questions in Montana, start with the Montana Commissioner of Securities and Insurance.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Montana.
Frequently asked questions
How long is Montana's life insurance free-look?
At least 10 days after delivery, under MCA 33-15-415.
What's Montana's life insurance grace period?
30 days, or one month of at least 30 days, under MCA 33-20-104.
Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · (877) 711-4545 · CA License #4348151. General information only. This isn't legal, tax or financial advice or a coverage determination. Coverage depends on policy language and underwriting, and rules vary by state.