Common use of Free Look Period Clause in Contracts

Free Look Period. Within 15 days of the issuance date, the Contract Owner may, if dissatisfied with it for any reason, give the Company a written notice of cancellation along with reasons for the same, and return the Contract documents to the Company, subject to which the Company shall send to the Contract Owner a refund comprising the first contribution paid less the proportionate risk contribution for the period the Life Assured was covered and the expenses incurred on medical exams. The refund paid to the Contract Owner will also be reduced by the amount of any reduction in the Investment Accounts value, if any, due to a fall in the unit prices between the date of allocation and redemption of units.

Free Look Period. Within 15 days of the issuance date, the Contract Owner owner may, if dissatisfied with it for any reason, give the Company a written notice of cancellation along with reasons for the same, and return the Contract documents to the Company, subject to which the Company shall send to the Contract Owner owner a refund comprising the first contribution paid less the proportionate risk contribution Risk Contribution for the period the Life Assured life assured was covered and the expenses incurred on medical exams. The refund paid to the Contract Owner owner will also be reduced by the amount of any reduction in the Investment Accounts investment accounts value, if any, due to a fall in the unit prices between the date of allocation and redemption of units.