NY A06280

Extends the free look period from 10-20 days to 90 days for individual health insurance policies sold to persons age 65 or older.

Allows seniors to surrender policies within 90 days for a full refund of premiums and fees if no claims have been incurred.

Permits refund of premiums minus amounts paid on claims if a claim was incurred during the 90-day period.

Maintains the existing 30-day free look period for medicare supplemental and long-term care insurance sold to persons under age 65.

Takes effect 180 days after enactment and applies to all policies with effective dates on or after the law's effective date.