Colorado Code § 10-18-107

Right to examine policy - right to refund of premium. Medicare
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supplement policies or certificates shall have a notice prominently printed on the first page of the
policy or certificate or attached thereto stating in substance that the policyholder or certificate
holder shall have the right to return the policy or certificate within thirty days after its delivery
and to have any premium refunded if, after examination of the policy or certificate, the
policyholder or certificate holder is not satisfied for any reason. Any refund made pursuant to
this section shall be paid directly to the policyholder or certificate holder by the insurer in a
timely manner. If a policyholder or certificate holder decides to cancel a policy or certificate
after the first thirty days of coverage and the policyholder or certificate holder provides the
insurer notice of the cancellation at least thirty days before cancellation, the insurer shall refund
a prorated amount of any prepaid premiums for such policy or certificate based on the
subsequent full months of coverage being canceled.

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