Question 7012 of 303 · California Life-Only Agent Exam
The free look provision allows the policy owner to
Exactly one answer is correct.
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Correct answer to question 7012
- D: return the policy in a set period for a refund
Explanation
Free look rights are mandatory. Insurers must refund the premium or the contract value as specified.
More questions: Policy Replacement and Cancellation
- 7013Which agent practice violates replacement rules?
- 7015Policy cancellation by the owner during the free look period generally has what effect?
- 7016Seniors age 65 and older receive special protection in California regarding
- 7005A replacement of life insurance occurs when
- 7006When replacement is involved, the agent must give the applicant
- 7007Which of the following is a potential disadvantage of replacing a whole life policy with a new one?