How long is the free-look period for Michigan annuity contracts?

How long is the free-look period for Michigan annuity contracts?

• A. 5 calendar days
• B. 15 calendar days
• C. 30 calendar days
• D. 10 calendar days

Answer: (D)

In Michigan, the free-look period for annuity contracts is a 10-calendar-day cooling-off window after delivery. This starts when the contract is delivered to you and ends on the tenth day after delivery. During this time you can return the contract for a full refund of any premiums paid, with no surrender charges. This period gives you time to review the terms, fees, and guarantees to ensure the product truly fits your retirement planning. The other durations listed don’t match Michigan’s requirement, which sets the free-look at 10 calendar days.

In Michigan, the free-look period for annuity contracts is a 10-calendar-day cooling-off window after delivery. This starts when the contract is delivered to you and ends on the tenth day after delivery. During this time you can return the contract for a full refund of any premiums paid, with no surrender charges. This period gives you time to review the terms, fees, and guarantees to ensure the product truly fits your retirement planning. The other durations listed don’t match Michigan’s requirement, which sets the free-look at 10 calendar days.