"Free Look" Period (Right of Rescission)
When you receive your insurance policy contract, you (as the policyowner) sign a delivery receipt which informs you that you can cancel the contract without penalty within 10 days and receive a refund of the premium you paid.
This provision is called your right of rescission and can be thought of as a 10-day money-back guarantee. This is different than the contestable period.
Note: There is no right of rescission for segregated funds.
page revision: 13, last edited: 08 Aug 2008 13:31