3.7.3.6. Free-Look Period
The policyholder may elect to return the contract within 45 days of its execution or within 10 days of receiving the issued contract, whichever is later, and receive a full refund of all payments made.
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SUMMARY TABLE Advantages and Disadvantages of Variable Life Insurance Products |
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Advantages |
Ability to choose how the money will be invested to better meet the policyholder’s goals |
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Minimum death benefit |
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Ability to earn a higher death benefit and cash value on the account |
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Ability to exchange the variable policy with a whole life policy within the first two years of the policy |
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Voting rights |
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Greater chance to beat inflation on cash value and death benefit |
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Disadvantages |
Subject to investment risk |
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May lose part of the | |