The free look period provided in a life insurance policy is usually

• A. 20 days
• B. 10 days
• C. 30 days
• D. 14 days

Answer: (B)

The free-look period is the time the policyowner has to review a newly issued life insurance policy after it is delivered and return it if it doesn’t meet their needs. It is usually ten days, which is the most common duration used in practice and exams. If you exercise this right within the window, the policy is void as if it never existed and all premiums paid are refunded. This window protects the buyer by allowing a no-risk review of the policy terms and benefits. In some jurisdictions you might see longer periods, but ten days is the standard. The period starts when the policy is delivered to the owner, not when the application was filed.