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Cooling-off period

冷靜期

A cooling-off period is a period after you sign a contract or receive a policy in which you can cancel, usually getting back what you paid, although the insurer may deduct the cost of cover already given. Not every product has one, and its length and conditions depend on the product and the rules. Find the start day and the way to give notice in the documents, and cancel within the period in the way they say.

Example

Suppose a policy has a 14-day cooling-off period, counted from the day you receive it.

Cooling-off period
14 days
Cancel on day 10
Within the period
Cancel on day 16
Period over

Cancelling on day 10 is inside the cooling-off period; cancelling on day 16 is not.

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This page is information, not investment, lending or tax advice.