California Life and Health Insurance Practice Exam

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Study for the California Life and Health Insurance Exam. Practice with flashcards and multiple-choice questions, each question has hints and explanations. Get ready for your exam!

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What is the duration of the free-look period for life insurance policyowners age 60 or older?

15 days
30 days
45 days
60 days

The correct answer is: 30 days

The free-look period is a consumer protection feature that allows life insurance policyholders to review their policy and return it for a full refund if they are not satisfied, without penalty. In California, the duration of the free-look period for policyowners who are 60 years of age or older is specifically set at 30 days. This extended period recognizes the importance of allowing older policyholders extra time to review their insurance contracts, ensuring they have the opportunity to fully understand the terms and conditions before making a financial commitment. Other durations are not applicable for this specific age group under California law, emphasizing the importance placed on consumer rights for older individuals in the insurance market.