Q applied for a life insurance policy and submitted their initial premium. The policy was issued but not delivered until later. If Q returns the policy during the free look period, how will the insurer respond?

When a policyholder decides to return a life insurance policy during the free look period, the insurer is obligated to fully refund the premium paid. This period allows the policyholder to evaluate the policy after its issuance and provides an opportunity to cancel the policy if it does not meet their needs or expectations.

The full return of the premium is a key feature of the free look provision, designed to protect consumers by ensuring they can reconsider their decision without financial loss. Consequently, the insurer will not impose any deductions or conditions on the return of the premium as long as the policy is returned within the specified free look duration. This clear benefit reinforces the importance of understanding policy provisions and consumer rights in insurance agreements.