What Is A "Free Look" Provision?

Many states have laws which give you a set number of days to look at the annuity contract after you buy it.  If you decide during that time that you don't want the annuity, you can return the contract and get all your money back.  This is often referred to as a free look or right to return period.  The free look period should be prominently stated in your contract.  Be sure to read your contract carefully during the free look period.