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Free Look Period

Categories: Entrepreneur

Almost any product has a no-penalty return period. That bright orange onesie you bought online at 3 am seems less daring and more ridiculous now that you've got it in your hand. No biggie. Next day, send it back.

Many insurance policies have a similar trial time frame. The free look period lets the customer cancel their policy without a financial penalty. No fee. No cost to buy out the contract. You get a free look. Kinda the way so many, um, art films are marketed on the internet as well.

Find other enlightening terms in Shmoop Finance Genius Bar(f)