What is the Free Look Period in Health Insurance? Full Guide

free look period in health insurance
Free Look Period

All health insurance policies come with a free look period option. With this option, you can cancel your health insurance policy during this period. Example: A few days back, Mr. Abhishek purchased a health insurance policy. He received his policy bond through courier.

But he was not happy with the terms and conditions of the policy. The policy was not as per his expectation. He read the policy bond in the details, and he got a clause of free look period option.

Mr. requested his health insurance company to cancel the policy. He submitted all the required documents and requests for cancellation within the free look period. His insurer canceled the policy and refunded the premium.

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What is the free look period in Health Insurance?

Free Look Period is the IRDA-approved guideline. All kinds of health insurance policies come with this provision. It gives you the chance to review your health insurance policy after receiving the policy bond.

If you are not satisfied with the policy’s terms and conditions then you have the option to cancel your policy during this period. Normally the free look period is of 15 days. You get this option when you purchase your health insurance policy.

However, I would to tell you the most important thing that the free look period is not applicable to the renewal of the policy. So, if you suppose that you may get free look time after renewing your policy also then it is not true. This is applicable only to new health insurance policies.

How To Cancel Policy During the Free Look Period?

Normally, You can submit a written request letter along with the original policy bond to the insurer to cancel it. You need to mention the reason for the cancellation of the policy. You may need to submit a cancel cheque and or bank details to get a refund of the premium in the account.

In case you lost the original policy bond then you can submit an indemnity bond also. You should not delay if you want to cancel the policy in a free look period. You have to submit the request within 15 days of receiving the policy bond.

free look period hi
Free Look Time

If you don’t want to regret purchasing the policy and cancel it then you should do all the homework and research before buying the policy. You should compare plans, and prices, and should understand the terms and conditions of the policy.

Before you do the final purchase, you should ensure that you are buying the right health insurance policy and you have understood all the details. This is the best way so that you don’t need to cancel the policy later.


You must read and review the policy as soon as possible after receiving your policy bond. Please review and understand the policy details and terms of it. If have some confusion and doubts, you can contact your insurance providers and clear your doubts and confusion.

Before you cancel the policy, you should understand the policy terms and conditions completely. If you are not comfortable then you take a call to cancel. However, analyze the facts and know that you are taking the right step.

The freelook period in health insurance is a very important clause of IRDA and beneficial also. I hope this article was helpful to understand all the required things.

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