A. days of grace
B. cooling off period
C. rectification
D. endorsement
Correct Answer: Option B
B. cooling off period
Explanation
The cooling-off period: Is a period during which you can cancel the policy for any reason. If you cancel, you should get a refund of any premiums you’ve paid, but the insurer is allowed to charge to cover days when the policy was in force, plus an administration fee.
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