WAEC - Insurance (2018 - No. 11)
The legth of time in which a proposer is expected to effect changes in life insurance contract is?
days of grace
cooling off period
rectification
endorsement
Explanation
cooling-off period,is a period during which you can cancel the policy for any reason. If you cancel, you should get a refund of any premiums you've paid, but the insurer is allowed to charge to cover days when the policy was in force, plus an administration fee.