What does "Free Look Period" in an insurance policy mean?

Q. What does "Free Look Period" in an insurance policy mean?
Answer: The initial period after policy issuance during which the policyholder can cancel the policy without penalty
Notes: A free look period is the initial period (usually 15 days) after policy issuance during which the policyholder can review the terms and cancel the policy if not satisfied.

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📌 Question Number: 12 in Important Terms Related to Insurance Sector in the above course in App.