Connecticut Life Producer Practice exam

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How many days does a policyowner have to review a new life insurance policy for a full refund?

5 days
10 days
15 days
30 days

The correct answer is: 10 days

In Connecticut, a policyowner is granted a 10-day free look period when purchasing a new life insurance policy. This provision allows the policyowner to review the policy and ensure it meets their needs and expectations. If the policyowner decides that the policy does not meet their requirements, they can return it for a full refund within this 10-day timeframe. This consumer protection measure is designed to give individuals the opportunity to reconsider their decision without any financial penalty, promoting informed choices in life insurance purchasing. The other options do not align with Connecticut's regulations, as the free look period is specifically set at 10 days.