What Is A Free Look Period For Life Insurance

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Understanding the Free Look Period

Definition: The free look period in life insurance is a specific time frame during which a policyholder can review their newly purchased life insurance policy. This period allows the policyholder to cancel the policy without any penalties or charges.

Duration: The length of the free look period varies depending on the insurance provider and the regulations of the state or country. Typically, it ranges from 10 to 30 days.

Free Look Period For Life Insurance

Examples of Free Look Periods

Importance of the Free Look Period

  • Review Terms: It allows policyholders to thoroughly review and understand the policy terms and conditions.
  • Financial Decision Making: Offers an opportunity to reconsider the financial commitment and ensure the policy meets individual needs.
  • Policy Adjustments: During this period, changes or adjustments to the policy can be made without financial loss.
Free Look Period Life Insurance

Free Look Period Comparison

Insurance TypeTypical Free Look DurationKey Consideration
Term Life Insurance10-15 daysSimplicity of policy
Whole Life Insurance10-20 daysLong-term commitment
Universal Life InsuranceUp to 30 daysPolicy flexibility


The free look period in life insurance is a crucial phase that empowers policyholders to make informed decisions about their insurance coverage without financial risk. This period ensures satisfaction and alignment with personal financial goals. Contact us today for a free quote.

Need Help Getting Life Insurance Coverage?

Contact us if you need help purchasing a life insurance policy. The service is free of charge.

Life Insurance Inquiry

Frequently Asked Questions

How long is the free look period for life insurance?

The free look period for life insurance typically ranges from 15 to 30 days, depending on the insurance company and the state regulations. In some states, the free look period may be longer, up to 60 days.

How do I cancel my life insurance policy on free look period?

To cancel a life insurance policy during the free look period, send a written notice to the insurance company within the period. Refunds of premiums paid will be processed in the same mode of payment used for purchase. However, administrative or processing fees may be deducted.

*Disclosure: Some of the links in this guide may be affiliate links. I may receive a commission at no cost to you if you purchase a policy. It helps us keep the lights on!

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

Scroll to Top