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Answer :
Final answer:
The free look period allows a policyholder to cancel their insurance policy and receive a full refund within a specified frame. For adults, it usually lasts 10 days, while seniors typically have a 30-day period.
Explanation:
The free look period is a specific time frame after purchasing an insurance policy during which the policyholder may review the policy terms and conditions and decide to keep or cancel the policy. If the policyholder opts to cancel during this period, they are entitled to a full refund of any premiums paid. This is a consumer protection feature to ensure that policyholders have the chance to understand their coverage without financial penalty. For adults, the free look period typically lasts 10 days, whereas for seniors (usually defined as individuals over a certain age, such as 60 or 65), this period is often extended to provide them with additional time to review the policy. The correct duration as per the options provided would be: A) Adults: 10 Days, Seniors: 30 Days
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