State RegulationsFL specificDifficulty 1/5
A Florida resident applies for an ordinary individual whole life policy. What free-look (right-of-return) period applies to this purchase?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
For ordinary individual life insurance in Florida, the exam answer is 14 days: Fla. Stat. 626.99(4)(a) ties the 14-day right of return to the Buyer's Guide delivery condition, requiring the insurer to deliver the Buyer's Guide and Policy Summary before accepting the initial premium unless the policy provides an unconditional refund for at least 14 days. Florida has no separate general free-look statute for life policies, so the 14-day figure rides on this delivery rule.
Why the other options are wrong
- A) Ten days is the figure used inside the replacement-rule context; ordinary life outside that context uses the 14-day standard.
- B) Twenty-one days is the annuity free look under Fla. Stat. 626.99(4)(b),(c), not ordinary life.
- D) Thirty days belongs to Medicare supplement (from receipt) and long-term care (after delivery) policies.
Memory hook
Ordinary life: 14 days tied to the Buyer's Guide.