Final answer:
The 10-day free-look period provides policyholders with the opportunity to review and cancel their insurance policy without penalty.
Step-by-step explanation:
What is true about the 10-day free-look period?
The 10-day free-look period is a provision in insurance policies that gives policyholders the right to review their policy, make changes or cancel it within a specified period of time without penalty.
During this period, the policyholder can read through the terms and conditions, compare it with other policies, and make an informed decision about whether to keep or return the policy.
It ensures that individuals have a chance to fully understand the terms of their insurance policy and make any necessary adjustments or cancellations if they are not satisfied.