YOU ASK:

What is the definition of Ten-Day Free Look Provision?

WE ANSWER:

The Ten-Day Free Look Provision provides the insured the opportunity to study the policy for 10 days. He can decide to cancel the policy within those 10 days, no questions asked, and receive a full refund for the premiums paid.

The ten days are given for the individual who just bought an insurance policy to evaluate and study the policy provisions underlined in the policy contract and make the necessary research. This is so that the policyowner is assured that he really needs the product and was not just talked into it by the agent.

Some states even provide longer free-look periods. The provision is commonly called the "right to examine" in most policies.

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