Chapter 46. Free looks
“As the old saying goes, what the wise man does in the beginning, fools do in the end.” | ||
| --Warren Buffet | ||
As I have said throughout this book, there are no free lunches. However, fortunately for purchasers of annuities, state regulators impose laws permitting “free look” periods for anyone purchasing an annuity. These provide annuity buyers with a little time to review the annuity contract before being finally bound to its complicated terms and conditions.
The “free look” period varies from company to company and from state to state, so it is important to look for this feature in your annuity contract when it is first delivered to you. It should be prominently displayed. The minimum “free look” time is 10 days. However, some ...
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