Didn’t like the insurance policy? You can easily cancel during the free look period, know the complete process

how to return an insurance policy: In today’s time, getting insurance is not just a necessity or an investment but also acts as a great financial security for you. Be it life insurance or health insurance, both are very important to secure the future of your family. However, many times it happens that after purchasing the policy, the customer does not find its terms, benefits, premium or other rules appropriate or not as expected. In some cases, there may be a difference between the information given by the agent and the policy document. In such a situation, most people feel that once the policy is purchased, it is not possible to cancel it or the money will not be refunded.

But, very few people know that insurance companies provide a facility to the customers called “Free Look Period”, under which you can get your policy cancelled.

What is free look period?

Free look period is a good facility provided by insurance companies. Actually, this is a fixed time limit during which the policyholder can check the terms and conditions of the policy after collecting the insurance documents. If the customer has any doubt on any condition of the policy or if he feels that he has not got the right policy, then in such a situation he can stop or cancel his policy. You can cancel your policy within a few days of taking the policy, cancellation after that will not be valid.

How to cancel the policy?

If you want to cancel your insurance policy, then first check the free look period and meet your agent. If the agent does not surrender your policy, then give a written application to the insurance company and prepare the documents attached to the policy. Now you have to go to the insurance company with these documents and ask them to take the application forward by giving an exact reason. After this your policy will be canceled and your money will be returned to you.

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