Give Correct Contact Info

Fill in the con tact details yourself. During the welcome call, the features of the policy are explained. If the agent has misled you, you can call for termination of the policy.

Save Date of Delivery

The free-look period begins the day you receive the policy. Make sure you retain the envelope containing the policy documents as it will have the date of delivery.

Visit Insurer for Cancelling

Do not go by oral intimation to the agent.Call up the insurer's customer care to communicate your decision to cancel the policy. Visit the insurer's office to submit application.

Don't Expect Full Refund

The insurer will refund the amount after deducting expenses for medical tests and stamp duty. If the risk cover has already come into effect, the risk premium will be deducted too.

Know ULIP Process

In case of unit linked insur ance policies, the units allotted will be repurchased by the insurer at the net asset value on the day your policy gets cancelled.