A cooling-off or free-look period can permit cancellation within defined conditions under the applicable product rules.
The distinction that matters
The duration, exclusions and refund calculation depend on the product and framework; overseas periods are not universal Australian rules.
What to check
- Read cancellation rights.
- Check deadlines and claim restrictions.
- Request the refund calculation.
Example to discuss
A buyer records the acceptance date and asks the provider how to exercise the stated cooling-off right.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.