What is the Free Look Period in Insurance?

Most insurance companies offer a Free Look Period of 15 Days. This is done to enable you to review the terms and conditions of the policy in detail. 15 Days start from the date of receipt of the policy is available to you for such a review. If you don’t like the terms and conditions of the policy, then you can cancel it and get the refund of premium paid. The insurance company will refund after adjusting the cost of pre-acceptance medical screening, if any, stamp duty charges, and pro-rata risk premium for the period covered, provided no claim has been made until such cancellation.

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