Customers can make mistakes when purchasing an insurance policy. Investors became aware that they were purchasing the wrong policy when:
- It falls short of the purpose for which it was purchased.
- Returns don't line up with what the policy text says they should be.
- The mature benefits don't satisfy the policyholder's needs.
In these situations, the customer has to know how to minimize the loss of the insurance in question. The customer may cancel the policy right away if the free-look period is still in effect. The refund would typically be issued for less certain fees, such as administrative costs, etc. The customer must consider other options, though, if the free-look time has expired.