{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4003.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4003.1","heading":"Cancellation of policy - Time period","body":"A. No policy of individual life insurance or any annuity shall\n\nbe delivered or issued for delivery in this state unless it shall\n\nhave printed thereon or attached thereto a notice stating in\n\nsubstance that, during a period of ten (10) days from the date the\n\npolicy or annuity is delivered to the insured, it may be surrendered\n\nto the insurer together with a written request for cancellation of\n\nthe policy or annuity and, in such event, the policy or annuity\n\nshall be void from the beginning and the insurer will refund any\n\npremium or moneys paid therefor within thirty (30) days from the\n\ndate of cancellation. If the insurer does not return any premiums\n\nor moneys paid therefor within thirty (30) days from the date of\n\ncancellation, the insurer shall pay interest on the proceeds which\n\nshall be the same rate of interest as the average United States\n\nTreasury Bill rate of the preceding calendar year, as certified to\n\nthe Insurance Commissioner by the State Treasurer on the first\n\nregular business day in January of each year, plus two (2)\n\npercentage points, which shall accrue from the date of cancellation\n\nuntil the premiums or moneys are returned. In such event, the\n\npolicy or annuity shall be deemed to have been canceled on the date\n\nthe policy was placed in the U.S. mails in a properly addressed,\n\npostpaid envelope; or, if not so posted, on the date of delivery of\n\nsuch policy or annuity to the insurer.\n\nB. This section shall not apply to life insurance policies\n\nissued in connection with a credit transaction or issued under a\n\ncontractual policy change or conversion privilege provision\n\ncontained in the policy.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"69b4029cb84c223e1116c7f6c5a29a8054a10b01fa41098dd7c9a59fe91b7653","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4003","next":"us-ok/okla.-stat.-tit.-36-36-4004"},"notice":"GroundRules: Original legal text. Not legal advice."}