Asked by: Vesna Munagaray
asked in category: General Last Updated: 15th May, 2020

How do I cancel my free look period?

If you decide to cancel your policy, do not go by oral intimation to the agent. The agent could try to delay the process. There have been instances where agents have withheld documents so that the free-look period expires. Call up the insurer's customer care to communicate your decision to cancel the policy.

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Also to know is, is it possible to get the full payment on Cancelling the new policy in free look period?

A free look period often lasts 10 or more days (depending on the insurer), allowing the contract holder to decide whether or not to keep the insurance policy; if he or she is not satisfied and wishes to cancel, the policy purchaser can receive a full refund.

Secondly, what is a 30 day free look period? You have 30 days from the day you receive the policy to examine and return it to the insurance company. You can return it for any reason. The insurance company will refund the full amount paid for the policy within 30 days of return.

Also know, what is the return policy for free look period?

The law allows the policyholder 15 days as free-look period from the date of receipt of the policy document. Policyholder is allowed to cancel the policy during this period and get a refund.

How long will free look in period or cooling off period lasts?

15 days

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