What is the "Right to Return the Policy" provision in a life insurance policy?

The "Right to Return the Policy" provision, often referred to as a "free look" provision, gives policyholders the ability to cancel their life insurance policy within a specified period—commonly 10 days from the date of policy delivery—and receive a full refund of any premiums paid. This provision is designed to provide reassurance to consumers, allowing them time to review the policy and evaluate whether it meets their needs without the risk of financial loss. If the policyholder decides the coverage is not suitable, they can simply return it and get their money back, fostering consumer confidence in their purchasing decision.