"Exchange policy" refers to a set of rules and guidelines that allow customers to swap or replace an item they have purchased, usually if it is defective, the wrong size, or not what they expected. Full definition
3 - day exchange policy on new and used vehicles. (kiaofcolumbia.com)
But unlike term life insurance, you have the unique options to exchange the policy for traditional permanent coverage without another medical exam, or adjust the death benefit if your needs change. (protective.com)
Ask about our 5 day / 500 mile exchange policy. (kbb.com)