Ace the PSI Ohio Insurance Test 2026 – Unlock Your Insurance Genius!

A life insurance policy can be returned for cancellation and a full refund within a specific time frame known as the free-look period. In many states, including Ohio, this period is typically set at 10 days from the date the policy is received by the policyholder. During this time, the policyholder has the opportunity to review the details of the policy and make an informed decision about whether it meets their needs and expectations.

If the policyholder decides to cancel the policy within this 10-day free-look period, they are entitled to a full refund of any premiums paid. This provision is designed to protect consumers, allowing them to change their minds without incurring a financial penalty.

The other time frames provided in the options do not align with the established free-look period for life insurance policies in Ohio, which is specifically 10 days. Therefore, the 10-day time frame is the correct answer for this question.