Contracts
Free-Look Period
A window after a policy is delivered during which the owner can cancel for a full premium refund.
The free-look period (commonly 10, 20, or 30 days depending on the state and product) begins when the policy is delivered. If the owner returns the policy within that window, the insurer must refund all premium paid, no questions asked. Replacement policies and annuities sold to seniors often carry longer free-look windows.
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