L&HCaliforniamedium
A 62-year-old California consumer purchases a new whole-life policy that REPLACES her existing term policy. Under California free-look rules, how many days does she have from policy delivery to return the policy for a full refund?
30 days, because the longer of the replacement free-look (§ 10509.6) and the senior free-look (§ 10127.10) controls
B10 days, the standard free-look that applies to ordinary California life policies that are neither senior nor replacement
C20 days, because the replacement and senior free-look periods are averaged together into a single combined window
D60 days, because a policy that is both a senior sale and a replacement receives the maximum stacked free-look period
Why this is the answer
California layers two distinct free-look extensions over the 10-day baseline: (1) Senior protection — Ins. Code § 10127.10 requires a 30-day free-look for any individual life policy delivered to a senior 60 or older. (2) Replacement protection — Ins. Code § 10509.6 requires a 30-day free-look on replacement life insurance and annuities. When both apply, the buyer receives 30 days (the longer overlapping period; they are not additive). 10 days would apply only to a non-senior, non-replacement policy. 60 days is the GRACE period for unpaid premium, not the free-look. The senior + replacement combo does not stack to 60.
Studying for the California Life & Health exam?
This question comes from our L&H bank. Take a free practice test — no signup.