How soon after the delivery of a life insurance policy must a purchaser be allowed to return it?

In Colorado, after receiving a life insurance policy, the purchaser has a period of 15 days to review the policy and return it if they choose to do so. This period is designed to give the policyholder a chance to assess the terms of the policy without pressure, ensuring that they have made the right decision. If the policy is returned within this 15-day window, the insurer is required to refund any premiums paid. This provision helps protect consumers by allowing them to change their minds without penalty shortly after acquiring a policy.