What is the minimum free-look period required for life insurance policies in Maine?

The minimum free-look period required for life insurance policies in Maine is established to protect consumers by allowing them time to review their policy after it has been delivered. During this period, which is set at 10 days, the policyholder can examine the terms and conditions of the insurance policy and decide whether it meets their needs. If they choose to cancel the policy within this timeframe, they can receive a full refund of any premiums paid. This requirement helps ensure that policyholders are fully informed and feel confident about their purchases, aligning with consumer protection standards.