Cooling-off Period

A cooling-off period is a legally defined window after you make an agreement (buy something, sign a policy, place an order, etc.) during which you can change your mind and cancel without penalty. The exact rules who gets it, how long it lasts, and what fees apply depend on the product and the jurisdiction.

• A legally defined time window to cancel or withdraw without penalty.
• Protects consumers and investors from impulse or pressured decisions.
• Common in online sales, insurance, financial investments, and real estate.
• Duration varies:
• Online sales: ~14 days
• Insurance (free-look): 15–30 days
• IPOs: till issue closes or on material changes
• Requires timely notification and sometimes returning goods/policy documents.