Life Insurance Refund - Can I get one?

Can I change my mind and get a refund?

Most states have a requirement that a life insurance policyholder can return a newly issued policy within a specified period and receive a complete refund of any premiums paid. This “free look” period allows the new policyholder an opportunity to review the policy in detail. Typically, the “free look” period will be 10 days for a new policy and 20 days for a replacement from the time you receive the policy. You should check with your own state to see what its provisions are.

Once accepted, the policyholder could still discontinue the policy by not paying premiums when due and thus allowing it to lapse. In this situation, the policyholder would not be eligible for a refund of premiums.

Use the menu below to view more about The Life Insurance Contract

	The Life Insurance Contract
	Can I Change My Mind And Get A Refund?
	Can The Insurance Company Cancel My Policy?
	Can A Company Refuse To Pay A Claim?
	Can A Company Void My Policy If I Lie Or Make A Mistake In Completing The Application?
	Can A Company Void My Policy If I Moved To A New State?
	What Is A “Cost Disclosure” Form?
	A Computerized Statement Provided By The Insurance Company For A Specific Policy Shows How Much Money I Will Get Back In Various Years After Buying The Policy? Are These Numbers Guaranteed? Is It Right That I Could Stop Paying Premiums After Only A Certain Number Of Years?
	An Agent Wanted Me To Buy A “Retirement Plan.” When He Showed Me The Contract, It Said “Life Insurance” In The Description. How Can I Be Sure What I Am Buying?