The length of time in which a proposer is expected to effect changes in the life insurance contract is?

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.