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The free-look provision required on individual life insurance policies under NAIC Model #580 (Life Insurance Disclosure Model Regulation) typically gives the policyowner:
AA fixed 30-day window measured from the date on which the application is first signed by the applicant, during which the policy may be cancelled outright, though without any refund of premium
A period (often 10 days, longer for replacement or senior-buyer policies) after policy delivery to examine the contract and, if dissatisfied, return it for a full premium refund
CA fixed 60-day window measured from the date the policyowner files a first claim under the contract, during which the owner may freely switch to a competing carrier without any penalty
DA permanent and continuing right to surrender the policy at any point during its entire life in exchange for a complete refund of every premium dollar that was paid
Why this is the answer
The free-look (or 'right to examine') period gives the policyowner a stated number of days after the policy is delivered to examine the contract and, if dissatisfied for any reason, return it for a full refund of all premiums paid. NAIC Model #580 establishes a baseline (often 10 days), and many states extend the period for replacement transactions (30 days where the state follows the NAIC replacement model, #613) and for senior buyers age 60 or older (commonly 30 days). The clock begins on delivery — not on application signing or on issue — so date-stamped delivery receipts are critical evidence in disputes.
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