CIPR 6.6.3 Life insurance contracts and retail customers — right to cancel on variation

(1) This rule applies to all life insurance contracts, whether or not they have an investment element.
(2) If a life insurance contract held by a retail customer is varied, then, unless the variation is the result of an option pre-selected by the customer, the customer has a right to cancel the contract within 15 business days after the day on which the customer receives the final varied contract document.
Derived from QFCRA RM/2019-2 (as from 1st January 2020).