Question

15 manilas life insurance application was approved, and she received the final contract last week. she paid the first premium on the day when the contract was delivered. now, manila is unsure if she needs the coverage and asks the agent if she can cancel the policy and get a refund. which of the following responses is the agent most likely to provide? qw96wusvwwnocncvqwppzohyvlbout09 a. manila has 30 days after policy issue to review the policy and return it for a full refund. b. manila can cancel the policy and get a refund as the 10 - day free look period has not passed. c. manila will not get a refund of the premium, but she can stop paying premiums in the future. d. manila can cancel the policy at any time but will not receive a refund as the final contract was delivered. qw96wusvwwnocncvqwppzohyvlbout09

Explanation:

In life insurance, the "free look period" (often 10 - 30 days, with 10 days common in some contexts) allows policyholders to review and cancel for a full refund. Option b states the 10 - day free look period hasn't passed, so she can cancel and get a refund. Option a's 30 - day period is less common for this context. Option c is wrong as she can get a refund in free look. Option d is wrong as she can get a refund in free look.

Answer:

b. Manila can cancel the policy and get a refund as the 10 - day free look period has not passed.