So, more about life insurance from my weekend of education previously mentioned including one very common explanation regarding policy delivery that most people don’t know and are not told.  Did you know that when you complete an application for a life insurance policy and are accepted by the insurer, that the agent should personally deliver the policy?  I always wondered why agents wanted to meet with me to deliver policies; I thought it would be just as easy to mail the policy.  However, there is a good reason called “Free Look” that was never explained to me and is probably not explained by the majority of insurance agents.  The free look allows the insured (you and me) time to examine the policy after delivery.  In Colorado for new life insurance policies the free look period is 15 days from the date of delivery.  If during this time period you are not satisfied or comfortable with information in the policy you may return the policy and receive a full refund of premium.  The coverage under the policy is then voided.  I’m curious, how may people with life insurance remember their agent explaining the free look period?

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About Pamela Wilson

PAMELA D. WILSON, MS, BS/BA, NCG, CSA helps caregivers and aging adults solve caregiving problems and manage caregiving needs through online programs, live support groups, and an extensive caregiving library that includes articles, podcasts, videos, and webinars.

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