The annuity free look period is a period after you receive your annuity contract during which you can cancel the contract and receive a full refund of premiums paid. The free look period is typically 10-30 days depending on the state. Review your annuity contract carefully during the free look period.
Key Points
- Free look period: typically 10-30 days after receiving your annuity contract
- Cancel during free look period: full refund of premiums paid
- Review your annuity contract carefully during the free look period
- After free look period: surrender charges may apply to early withdrawals
- An independent agent can help you review your annuity contract