New Hampshire Department of Insurance Free Look Period for Life Insurance

What the Free Look Period Means in New Hampshire

The New Hampshire Department of Insurance mandates a 30‑day free look period for all new life‑insurance policies. During this time, you can review your policy, ask questions, and cancel without penalty. The insurer must provide a written notice of the free look period before you sign.

How to Exercise the Free Look Period

To cancel, send a written notice to the insurer within 30 days of signing. The notice should include your name, policy number, and a statement of cancellation. The insurer must return any premiums paid, less a 5% administrative fee if the policy was issued electronically. If you pay by check, the full amount is refunded.

What Is Covered Under the Free Look Period

All types of life insurance—term, whole, universal—are subject to the free look. The period applies to both new policies and renewals that involve a change in coverage amount or terms. It does not cover policies purchased online through a third‑party broker; those must be reviewed before purchase.

Common Mistakes to Avoid

Many consumers forget to keep a copy of the cancellation letter. Retain a signed copy and the insurer's receipt. If the insurer fails to refund within 30 days, file a complaint with the Department of Insurance.

Benefits for Consumers and Insurers

The free look period builds trust, reduces consumer complaints, and encourages transparent underwriting. For insurers, it lowers long‑term churn and supports a reputation for fairness.