Final answer:
The minimum free look period for a fixed annuity in Florida is 14 days, allowing policyholders to cancel the contract and receive a full refund within this timeframe.
Step-by-step explanation:
The minimum free look period for a fixed annuity in Florida is 14 days. This is a mandated time frame during which a policyholder can review their newly purchased annuity contract and decide if they wish to keep it. This period allows for a full refund if the policyholder chooses to cancel the annuity within this timeframe. It offers an extra layer of protection and the opportunity for purchasers to ensure that the financial product meets their expectations and requirements without penalty.