If a policy is mailed to the applicant, when does the free look period start?

The free look period for a mailed insurance policy begins on the date of receipt. This timeframe allows the policyholder to review the policy and decide whether to accept it or return it for a full refund. The intent of the free look provision is to give consumers an opportunity to evaluate their purchase after they receive the policy, ensuring they have enough time to understand the terms and coverage. Thus, the correct understanding aligns with the concept that the free look period starts when the policy is physically received by the applicant, not when it is mailed or approved.

This provision protects consumers by allowing them to reconsider their decision after they have the opportunity to read the policy documents in detail. Therefore, while the date of mailing might seem appealing as the start point, it is not the practical application of the free look period.