Free look period definition

Free look period means the period of time during which a borrower may cancel a guaranteed asset protection waiver without penalty, fees, or costs to the borrower. A free look period must begin on the effective date of the guaranteed asset protection waiver, and the term of a free look period must be at least 30 days.
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Free look period means the period of time from the effective date of the GAP waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. This period of time must be at least thirty days.
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Free look period means the period of time from the effective date of the guaranteed
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Examples of Free look period in a sentence

  • Free look period shall not be available on Renewals or on Portability.

  • Free look period: The policyholder has the right to cancel the policy within 15 days from the date of receipt of the policy document, in case he/she does not agree with the terms and conditions of the policy.

  • The policyholder may cancel this policy by returning it to the Company within 15 days of receiving it for all distribution channels except for Distance Marketing* channel, which will have 30 days Free look period.

  • Free look period: The Policyholder has the right to cancel the Policy within 15 days from the date of receipt of the Policy document, and period of 30 days in case of electronic policies and policies obtained through distance mode, in case he/she does not agree with any of the terms and conditions of the Policy.

  • Free look period is also not available where the policy period is of the tenure less than one year.


More Definitions of Free look period

Free look period means the period specified under Part D clause 7 from the receipt of the Policy during which Policyholder can review the terms and conditions of this Policy and where if the Policyholder is not agreeable to any of the provisions stated in the Policy, he/ she has the option to return this Policy;
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Free look period means the period of time from the effective
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Free look period means the period of time, not less than 30 days, from the effective date of the waiver until the date the borrower may cancel the waiver contract without penalty, fees or costs to the borrower.[PL 2017, c. 475, Pt. A, §13 (RPR).]
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Free look period means the period of time, not less than 30 days, from the effective date of the waiver until the date the borrower may cancel the waiver contract without penalty, fees or costs to the borrower.
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Free look period means on the first inception of the Policy, the Insured has a period of 15 days from the date of receipt of the documents to review the terms and conditions of the Policy. Where the Insured disagrees to any of those terms or conditions, he has the option to return the Policy stating the reasons for his objection, when he shall be entitled to a refund of the premium paid, subject only to a deduction of Rs. 100/- towards expenses incurred by the Insurer.
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Free look period means the period specified under Part D Section 1 from the receipt of the Master Policy/ Certificate of Insurance during which Master Policyholder/ Life Insured can review the terms and conditions of this Master Policy/ Certificate of Insurance and where if the Master Policyholder/ Life Insured is not agreeable to any of the provisions stated in the Policy, he/ she has the option to return this Master Policy/ Certificate of Insurance.
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Free look period means the period of time, commencing
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