What is a free look period for term life insurance?

It's the period of time you have to return your life insurance policy (after receiving it) and get a full refund of all premiums paid, should you decide you no longer want to keep your life insurance.

Usually, insurers offer a free look period of between 10 to 30 days, but the state department of insurance sets regulations for the specific minimum free look period required for your state of residence.

Learn more about the free look period for t...

In most states the insured has 10 days in which to examine their life insurance policy, and if not satisfied, to return it to the insurance company for a full refund of the initial premium paid to the insurer.

Free look periods may vary, but the minimum amount of time for a free look is usually 10 days.

The free look gives you a guaranteed refund if you are not satisfied with the purchase of your life insurance policy. So, you get back the money you paid to start your life insu...