Max Life Insurance MWPA addition rejected even after lapse from their end
I bought a Max Life Term Insurance policy via Axis Bank in March 2022. The payment was made at end of Feb but the policy was issued on 29th March 2022. The form was filled online.
After making the payment, I asked them to add MWPA to my policy, and the payout mode to lump sump + monthly on 6th April 2022. After multiple follow-ups, they shared the form with me for MWPA on 20th, and 25th April 2022.
I shared the filled-up form with them on 5th Jun 2022.
Now, I got an email today saying that the changes in policy are not possible because the free look period for the policy got over on 27th April 2022. I wasn't aware of the timeline for this and neither did they share it.
What do I do now?
a) Shall I cancel my policy and get a new one? What happens to the paid premium?
b) Is there any mechanism to get this done in the policy?
c) any other option?
Please guide. Looking forward for the assistance at the earlier.