Free look period laws are state-mandated rules specifying the number of days a policy owner has to cancel a newly delivered policy and receive a refund. The period often extends for replacement policies or certain senior sales.Carriers must include free-look language in policy pages and provide clear instructions for cancellation. These Laws are core consumer protections that allow a reasonable review of coverage terms, charges, and riders after delivery, especially for complex products like universal life or annuities with surrender schedules and optional living-benefit riders.

Agencies track state-specific free-look periods, especially for replacements and senior sales with extended windows. Delivery checklists include dates and return instructions. Accurate tracking avoids missed rescission deadlines and supports consumer protection goals.