If you've ever bought something online from e-commerce platforms, you'd know how some products come with a 'return period'. If you're not satisfied with the product you've purchased or if it's not as per your expectations, it is during this period that you can return it. Similarly, in insurance too, you get a period called the 'free look period'. 

In this article, let's learn in detail about the free look period in health insurance, how it works, and more.

Let’s dive right in!

What Is The Free Look Period In Health Insurance Policy?

Just like the name suggests, the free look period is a period where you can freely look at the policy you've purchased. 

You can go through the policy document, look at the policy terms and conditions, exclusions, limitations, etc. If you're not happy with the policy or come across policy terms that you do not feel are right for you, you can return the policy to the insurance company during this period.

Now that you’ve understood why the free look period is introduced in insurance contracts, let’s learn how the free look period works. 

How Does The Free Look Period Work?

👉 Start Date

The free look period will begin from the date you receive the policy document - and not from the policy issuance date or effective date.

👉 Time Limit

You get a free look period of 15 days from the date of receipt of the policy document. 

👉 Applicability

You’re allowed a free look period only at the time of buying the insurance policy. You don’t get a free look period when you’re renewing or porting your policy - that is, transferring your health insurance policy to another insurance company. 

👉 Refund

In case you've not made any claim during the free look period, the insurer will refund the premium you’ve paid to them. But they might deduct certain charges, such as -

• Administration charges
• Stamp duty charges 
• Expenses incurred on your medical examination
• Proportionate risk premium for the period of cover

That is all about the free look period in health insurance. If you have any further questions related to what is free look provision in health insurance in India, you can post them on the Beshak Insurance Forum and get answers from insurance experts!