When does Connecticut's 10-day right of rescission for life insurance policies begin?

The 10-day right of rescission for life insurance policies in Connecticut begins on the date of delivery. This means that once the policy is delivered to the policyholder, they have a 10-day period during which they can review the terms of the policy and decide whether to keep it or cancel it without penalty. This provision is designed to give consumers a chance to reconsider their purchase and ensure that the insurance policy meets their expectations and needs.

Other options do not align with the actual regulations in place. For instance, starting the rescission period at the time of application or upon policy approval would not provide consumers with adequate opportunity to review the actual policy terms, which may differ from what was discussed during the application process or approval stage. Beginning the period at the date of the first premium payment also fails to capture the essential point that consumers need to examine the policy itself upon receiving it rather than merely when initiating payment for it. Therefore, the correct answer is tied to the delivery of the policy, when the insured can fully assess their commitment.