Policy Riders, Provisions, Options, and Exclusions
Where is the period for returning a new life policy for a refund usually stated?
Answer and explanation
Answer: A. The NAIC Life Insurance Buyer's Guide explains that an owner not satisfied with a new policy may return it for a full refund within a certain period, and that the review period usually is stated on the first page of the policy. The application, an annual report, and a covering letter are not where the guide says to look.Source: NAIC — Life Insurance Buyer's Guide — Buyer's Guide page 7, After you buy life insurance
More policy riders, provisions, options, and exclusions questions
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