A free look period gives the client an option to review the terms and conditions of the policy within 15 days from the date of receipt of the policy document. Where he disagrees with the terms and conditions stated in the policy, he has the option to return the policy, stating the reasons for objection. In such a case the Policy would then be cancelled and the premium paid by the client would be refunded to him, after deducting: proportionate risk premium for the period on cover, expenses incurred by the Insurance Company on medical examination of the client and stamp duty charges.