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It's impossible to know and understand all the terms, exceptions, exclusions, and limitations of your Mortgage Protection Insurance Coverage until you've actually been issued a policy. That means that the insurance company you buy your Mortgage Protection Insurance Coverage from must give you a certain period of time after your policy has been approved and mailed to read the policy and decide whether or not you want a refund. This period is called the 20-day free look period.
The 20-day free look period begins once your policy has been delivered to you. There is a form you'll be asked to sign once you receive the policy that will show the date it was placed in your hand. As of this date, you'll have 20 days to read all the terms and decide whether or not you wish to return your policy with a letter asking for a refund.