Vida Grupal y AnualidadesPregunta 447 de 716
The 'free look' provision on a newly issued annuity allows the owner to:
a.Return the contract within a stated number of days and receive a refund
b.Change the annuitant to a different person
c.Double the premium already paid
d.Withdraw all earnings free of income tax at any time without any restriction at all
Explicación
The free look provision gives the annuity owner a set number of days after delivery to review the contract and, if unsatisfied, return it for a refund. It does not make earnings tax-free, does not by itself allow changing the annuitant, and does not double the premium. The free look is a consumer protection that lets buyers reconsider a purchase without penalty, which is especially important for products marketed to seniors.
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)