State RegulationsNC specificDifficulty 1/5
Under 11 NCAC 12 .0447, every individual life or annuity policy delivered in North Carolina must display the 'Ten Day Free Look' provision. This gives the policyholder the right to:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under 11 NCAC 12 .0447, the Ten Day Free Look provision must be shown by sticker or print on the face of every individual life or annuity policy before issuance, giving the policyholder 10 days after receipt to return the policy for a prompt refund of premium. This is the standard free-look right for an ordinary purchase.
Why the other options are wrong
- B) The 30-day unconditional-refund right belongs to replacement transactions under 11 NCAC 12 .0612(a)(4), not to the standard free look.
- C) No 45-day free-look period exists in North Carolina rules.
- D) The free look is a 10-day right after receipt, not a cancel-anytime option.
Memory hook
Standard life free look: ten days on the policy face.