In California, under the free look provision for life insurance policies, the insurer must refund the premium within 30 days of the policy being returned by the policyholder. Therefore, the correct answer is:
3. Within 30 days.
Harry returned his newly issued life insurance policy to the insurer for a refund under the free look provision. Within what period of time, as stated in California law, must the insurer refund the premium?
1. Within 15 days
2. No maximum refund period is prescribed.
3. Within 30 days
4. Within 6 months
1 answer