South Carolina Life and Health Practice Exam

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Study for the South Carolina Life and Health Exam. Engage with flashcards and multiple choice questions; each question is outlined with hints and explanations. Prepare for your certification journey!

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How many days does the free-look provision in South Carolina allow an insured to return an individual insurance policy for a full premium refund?

30 days
15 days
10 days
5 days

The correct answer is: 10 days

The free-look provision in South Carolina allows an insured to return an individual insurance policy within a specified time frame for a full premium refund. In South Carolina, this period is set at 10 days. This provision is designed to protect consumers by giving them the opportunity to review their insurance policy after purchase. If they find that it doesn't meet their needs or expectations, they can cancel it within this 10-day window without any financial penalty. This is an important consumer protection feature, as it encourages informed decision-making and ensures that individuals have sufficient time to assess their new coverage.