Which Accident and Health policy provision allows the policyowner a stated amount of time to return a newly-delivered policy for a full refund of premiums if not satisfied for any reason?

The provision that allows the policyowner a stated amount of time to return a newly-delivered policy for a full refund of premiums if not satisfied for any reason is known as the Right to Examine. This "free look" provision is designed to protect consumers by giving them time to review the policy and ensure that it meets their needs and expectations. If they find the policy unsatisfactory, they can return it without penalty within the designated period.

This provision is important because it provides peace of mind for the policyholder, allowing them to make an informed decision about their insurance coverage without the fear of losing their premium if they change their mind shortly after purchase.

Other options do not pertain to this specific function: the Duration of Coverage outlines the time frame during which the policy is valid, the Grace Period allows policyholders a grace period to pay premiums without losing coverage, and the Reinstatement Clause sets the terms for reinstating lapsed policies. Each of these serves a different purpose in the context of health insurance policies but does not have the same return policy function that the Right to Examine provides.