Tennessee Life Producer Practice Exam

In Tennessee, the required free look period for life insurance policies is 10 days from the date the policy is received by the policyholder. This provision allows individuals who have purchased a life insurance policy to review the terms and conditions, ensuring they are comfortable and satisfied with their coverage. If, during the free look period, the policyholder decides that the policy does not meet their needs, they can cancel it and receive a full refund of any premiums paid.

This 10-day period is an important consumer protection measure, giving policyholders the opportunity to reconsider their decision without penalty. It's essential for producers to communicate this aspect to clients so they understand their rights and options after purchasing a policy. The specified time frame reflects a balance between allowing consumers enough time to make an informed decision and ensuring that insurers can manage their policies effectively.