Which of the following is an example of a health insurance provision that allows a policyholder a limited time to examine the policy after purchase?

The provision that allows a policyholder a limited time to examine the policy after purchase is known as the "Free Look" provision. This feature is designed to protect consumers by giving them an opportunity to review the terms and conditions of their health insurance policy after they receive it. Typically, this period lasts for a specified number of days, during which the policyholder can cancel the policy without penalty and receive a full refund of the premiums paid. This provision is important as it ensures that policyholders can make an informed decision about their insurance coverage and validate that it meets their needs.

The other options refer to different aspects of insurance policies. The "Grace Period" is a timeframe after the premium due date during which a policyholder can pay their premium without losing coverage. "Waiver of Premium" refers to a provision that allows the policyholder to skip premium payments during a period of disability. "Claim Payment" pertains to the process of an insurance company making payments to beneficiaries or policyholders upon a covered event, such as in the case of medical expenses or death benefits.