Short answer: Ohio law requires individual life policies to include a one-month grace period for every premium after the first. Ohio's life insurance disclosure rule ties delivery of the buyer's guide and policy summary to an unconditional refund provision of at least ten days.
This guide is general consumer information for Ohio life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Grace period
Ohio Revised Code 3915.05 requires a provision for a grace of one month for every premium after the first. Interest may be charged, the insurance continues during that month, and if the insured dies during grace the overdue premium may be deducted from the settlement.
Free-look under the disclosure rule
Ohio's life insurance disclosure rule, OAC 3901-6-03, lets insurers deliver the buyer's guide and policy summary with the policy (rather than before you apply) when the policy, or its summary, contains an unconditional refund provision of at least ten days. Read that refund notice when your policy arrives and act inside the window if the coverage isn't right.
Insurer financial strength
If you have questions about an insurer's financial strength or solvency in Ohio, contact the Ohio Department of Insurance.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Ohio.
Frequently asked questions
What's Ohio's life insurance grace period?
One month for every premium after the first, under R.C. 3915.05.
Does Ohio have a life insurance free-look?
Ohio's disclosure rule (OAC 3901-6-03) ties delivery of the buyer's guide with the policy to an unconditional refund provision of at least ten days.
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.