In the case of the health insurance plan, the policyholder can easily act upon the free look period benefit in a time stimulated. The health insurance companies offer a free look period of 15 days. During this tenure, the policyholder can make a final decision on whether or not the plan fulfills the requirements.
In case the policyholder feels that the plan doesn’t meet the requirements, the individual can cancel the policy within 15 days. There will be no cancelation charges if the plan is canceled within 15 days. Yet, a premium will be charged for the days that the individual makes the final decision.