CIPR 6.6.2 Life insurance contracts and retail customers — right to cancel during free look period

(1) This rule applies to all life insurance contracts, whether or not they have an investment element.
(2) A retail customer has a right to cancel a life insurance contract within the free look period.
(3) The free look period is 15 business days beginning on the business day after the day on which the customer receives the final contract document.
(4) The right to cancel ceases if the customer makes a claim within the free look period.
Derived from QFCRA RM/2019-2 (as from 1st January 2020).