Return & Cancellation Policy
Understanding your rights during the Free Look Period
Free Look Period
Insurance policies in India come with a mandatory "Free Look Period" of 15 days (30 days for policies sold via distance marketing like online or phone). During this time, you have the right to review the terms and conditions of your policy. If you disagree with any of the terms, you can return (cancel) the policy.
1. How to Return Your Policy
If you wish to return your policy within the Free Look Period, follow these steps:
- Submit a Written Request: Send a cancellation request to the insurer or us via email or letter, stating your policy number and the reason for cancellation.
- Original Policy Document: You may need to return the original policy document (if issued physically).
- Bank Details: Provide a cancelled cheque or bank details for the refund transfer.
2. Refund Calculation
Upon successful cancellation during the Free Look Period, the premium will be refunded after strict non-refundable deductions:
Prorated Risk Premium
Premium for the number of days the policy was active is deducted.
Medical Expenses
Costs incurred by the insurer for your medical tests (if any) are deducted.
Stamp Duty
Stamp duty charges paid for policy issuance are non-refundable.
3. Service Returns
Please note that "Insurance Support" acts as a facilitator. We do not issue refunds directly. All refunds are processed by the respective Insurance Company to your bank account directly.
For our advisory or consulting fees (if applicable and charged separately), refunds are governed by the specific service agreement signed at the time of engagement.