North Dakota life insurance consumer guide

Short answer: North Dakota gives life insurance buyers 20 days after delivery to return the policy for a premium refund under N.D.C.C. 26.1-33-02.1. Chapter 26.1-33 also requires a 31-day grace period for premiums after the first.

This guide is general consumer information for North Dakota life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.

20-day right to return

Under N.D.C.C. 26.1-33-02.1, a person who purchases a life insurance policy or certificate issued or delivered in North Dakota may return it within twenty days of delivery and get a refund of the premium. Every such policy must carry a prominent notice of that right.

Grace period

N.D.C.C. chapter 26.1-33 gives policyholders thirty-one days past each later premium's due date to pay before lapse. The insurance keeps running in that period; interest may be charged, and an unpaid premium can be subtracted if a claim is settled.

Checklist for the return window

North Dakota's twenty days run from delivery, so note that date. Read the illustration and policy pages side by side, check that riders you asked for are attached, and confirm the beneficiary designation. If you return the policy, do it in writing and keep proof of when you sent it.

Insurer financial strength

Shoppers who want regulator guidance on insurer financial strength or solvency in North Dakota can reach the North Dakota Insurance Department.

Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in North Dakota.

Frequently asked questions

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.