Free-Look Period
A plain-English definition from the DeployIT insurance technology glossary.
In short: The window (typically 15-30 days) after policy receipt during which a policyholder can return the policy for a refund.
Related terms
- Clawback
- Recovery of previously paid commission when a policy lapses, is cancelled or free-looked within a defined period.
- Endorsement
- A mid-term modification to a policy, such as adding or removing group members, address changes or nominee changes, issued as an amendment.
See this concept working in software
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