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What is a free-look period?

What is a free-look period?

Monday, February 27, 2017, 12:59 PM

A free-look period is a period where the new insurance policy owner is able to terminate the contract. It lasts for 15 days allowing the contract holder to decide whether or not to keep it. If the terms do not meet his expectations, he can cancel the policy and receive a full refund. This period does not allow insured to alter the policy terms.
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