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Welcome to Quotacys video series Life Insurance Word of the Day. Im Natasha. In this series, we explain life insurance terms in easy-to-understand language. Todays words of the day are: Free Look Period. The free look period is the length of time a life insurance policy owner has to examine his or her new policy to make sure they want it. They can cancel their coverage without penalty during this time and receive a full refund of whatever premium was paid. The free look period usually lasts 10 to 30 days. Thanks for watching. Head on over to Quotacy.com for free and instant term life insurance quotes. Bye! Thanks for sticking around! Wed appreciate it if you Liked the video, and hit that fancy little Subscribe button to see us every week. Bye!