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The 30-day free-look period: your right to return a policy

By Ankeet Bahety · 17 Oct 2026

If you buy a new life insurance or individual health insurance policy and it is not what you expected, you can return it within the free-look period. IRDAI has set this at 30 days, whether you bought online or in person.

How it works

• The 30 days start from the day you receive the policy document.
• Write to the insurer, say you are cancelling under the free-look provision, and give the reason.
• The insurer refunds the premium after small deductions: cover for the days you were insured, any medical check-up costs and stamp duty.

Use the 30 days well

1. Read the policy document, not just the brochure.
2. Check the sum insured, waiting periods, room-rent limits, co-payment and exclusions.
3. For life policies, check the premium payment term, the policy term and what you get back, in writing.
4. If something differs from what you were told, ask for it to be corrected or return the policy.

Renewals and most motor policies do not have a free-look period.

Sources: Business Standard, 15 Mar 2026. General information only, not personal advice. Insurance is the subject matter of solicitation.