Back to all terms

Free-Look Period

A free-look period is the short window of time after purchasing a health or dental insurance policy during which you can review the plan and cancel it for a full refund if you are not satisfied. This consumer protection feature allows you to read the policy in detail and ensure it meets your needs before committing long-term.

The period usually lasts 10 to 30 days, depending on the insurer. Cancellation within this timeframe results in a full premium refund, provided no claims have been made.

Example:

If you buy a plan on April 1 and the insurer offers a 20-day free-look period, you may cancel by April 21 for a full refund if no claims were submitted.

What to Watch For:

Mark your calendar when new coverage begins. If you cancel after the free-look period, standard cancellation policies and partial refunds apply.

Related Terms

Grace Period

A grace period is the additional time granted after a premium payment is due during which an insurance policy remains active, even though payment has not yet been received. It provides policyholders with a short window to make late payments without losing coverage. The grace period ensures continuity of protection and helps prevent accidental policy lapses caused by missed or delayed payments.

Contestability

Contestability refers to the period of time after an insurance policy is issued during which the insurer has the right to review and investigate the accuracy of the information provided in the application. If the insurer discovers that any information was omitted, misstated, or misrepresented during this period, it can deny a claim or void the policy.

Benefit Survival Period

A benefit survival period is the minimum amount of time a policyholder must remain alive after being diagnosed with a covered condition before an insurance benefit becomes payable. This period ensures that the illness or injury meets the policy’s criteria for a valid claim and prevents immediate payouts for conditions that result in death shortly after diagnosis.

Individual Insurance

Individual insurance is a personal policy purchased directly from an insurance company to provide financial protection for a single person or family, rather than through an employer or group plan. It allows you to customize coverage according to your health needs, lifestyle, and budget. Common types of individual insurance include health, dental, life, critical illness, and disability coverage.

Renewal Date

The renewal date is the day on which an insurance policy is scheduled to be reviewed and extended for another term. It marks the end of the current coverage period and the start of a new one, during which updated premiums, benefits, or policy terms may take effect. Renewal dates ensure that insurance coverage continues seamlessly as long as the policyholder meets all conditions, such as paying premiums and maintaining eligibility.

Learn More About Free-Look Period

Extended Health Care Plans That Let You Opt-Out of Dental Coverage (and Use the CDCP)
Articles

Extended Health Care Plans That Let You Opt-Out of Dental Coverage (and Use the CDCP)

Learn which Extended Health Care plans in Canada let you opt-out of dental coverage and stay eligible for the Canadian Dental Care Plan (CDCP). Compare plan options, clear up CDCP misconceptions, and understand why private dental insurance may still matter.

Canada Introduces Permanent Dental Care Program as Part of 2023 Federal Budget - The Facts
News

Canada Introduces Permanent Dental Care Program as Part of 2023 Federal Budget - The Facts

Learn about Canada's new permanent dental care program in the 2023 Federal Budget, designed to assist uninsured Canadians with incomes under $90,000. Discover eligibility criteria and how Aeva can help you navigate health and dental insurance options. Find your best policy today with Aeva.

Is Dental Insurance Important to Have?
Articles

Is Dental Insurance Important to Have?

Is dental insurance worth it? Discover the benefits of dental coverage and how it can save you money on routine and major dental care. Explore various plans and get matched to the best health insurance policy at Aeva.ca. Make informed decisions on dental and health insurance with Aeva's expert advisors today.

Relevant Plans

Plans that relate to Free-Look Period

Alberta Blue Cross - Blue Assured - Basic

Alberta Blue Cross - Blue Assured - Basic

Can apply at anytime, at any age.

Alberta Blue Cross - Blue Assured - Enhanced

Alberta Blue Cross - Blue Assured - Enhanced

Can apply at anytime, at any age.

Alberta Blue Cross - Blue Assured - Enhanced+

Alberta Blue Cross - Blue Assured - Enhanced+

Can apply at anytime, at any age.

Alberta Blue Cross - Blue Assured - Premium

Alberta Blue Cross - Blue Assured - Premium

Can apply at anytime, at any age.

Have questions about your insurance coverage?

Our licensed advisors can help you understand your options and find the right plan for your needs.

Contact Us