Question

How long is the free-look period with a Medicare supplement policy?

1) 10 days
2) 20 days
3) 30 days
4) 60 days

Answer 1

The free-look period for a Medicare supplement policy is 30 days, offering a risk-free timeframe to evaluate the policy. The correct option is 3.

Step-by-step explanation:

The free-look period with a Medicare supplement policy, also known as Medigap, is 30 days. This is a one-time-only opportunity beginning on the day you start your policy, during which you can cancel the coverage for any reason and receive a full refund. It's designed to give new policyholders a chance to review their Medicare supplement insurance and decide if it meets their needs without financial risk. Hence, 3 is the correct option.