424.401 Cancellation by customer.
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/wi/chapter-424/424-401-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
424.401 Cancellation by customer.
(1)Following the sale of any insurance product under s. 422.202
(a)2. , including insurance described in s. 424.301
(1m), or, if for a term of more than one year, any future service or motor club service contracts under s. 422.202
(a)3. , the customer has the right to cancel the products or contracts until 30 days after the insurance policy, future service contract or motor club service contract is mailed or otherwise delivered to the customer. The creditor shall provide the customer a notice in duplicate in the form set forth in subs.
(2)and
(3).
(2)The notice required by sub.
(1)shall be in substantially the following form:
CUSTOMER’S RIGHT TO CANCEL OPTIONAL ....
(INSURANCE, FUTURE SERVICE CONTRACT
OR MOTOR CLUB SERVICE CONTRACT)
You may cancel the optional .... (insurance, future service contract or motor club service contract) which you purchased and financed through .... (name and address of lender) on .... (date). To cancel, you must mail or deliver a written notice to us before midnight of the 30th day after the date this .... (insurance policy or service contract) was mailed or otherwise delivered to you.
If you wish, you may use this page as your written notice by writing “I hereby cancel this .... (insurance or service contract)” and adding your name, address and the date. This page and the original .... (policy or contract) must be sent or delivered to us before midnight on the 30th day after the date the .... (insurance policy or service contract) was mailed or otherwise delivered to you. Keep the copy of this page for your records.