The free look period typically lasts 10 days to 30 days from the date the policy is delivered, depending on the insurer and the province.

It gives the policyholder the opportunity to:

• Read through the policy document thoroughly.

• Verify the coverage aligns with what was promised.

• Ask questions or address any concerns with the advisor or insurance company.

• If the policyholder decides to cancel within the free look period:

• They must notify the insurer in writing or follow the process outlined in the policy.

• The insurer will refund all premiums paid, and the policy will be voided as if it never existed.

most provinces in Canada mandate the free look period for life insurance policies, ensuring consumer rights are protected.

This feature is particularly important for clients who may feel uncertain or pressured during the initial purchase. As an advisor, we always encourage clients to take advantage of this period to ensure their decision aligns with their financial goals and needs.