What is the minimum free-look period for individual life policies in Georgia?

The correct answer regarding the minimum free-look period for individual life policies in Georgia is ten days. The free-look period is a consumer protection measure that allows policyholders to review their new insurance policy after purchase. During this time, they have the right to cancel the policy for any reason and receive a full refund of the premiums paid.

In Georgia, the law mandates that this free-look period be not less than ten days. This period enables policyholders to thoroughly examine their policy documents, consider their needs, and ensure that the coverage matches their expectations without financial penalty if they decide it does not fit their requirements. This emphasis on consumer protection enhances trust and satisfaction in the insurance process, ensuring buyers have ample time to evaluate their decisions.

Longer periods offered by other states, such as 20 or 31 days, are not applicable under Georgia law, making the ten-day period the established standard in this jurisdiction.