Updated on 14 Dec 2025
When people purchase a health or medical insurance plan, they might feel a bit unsure whether it’s the right plan for them. To provide all policyholders peace of mind, insurance firms have started to offer a feature known as the free look period. This is mandated by the Insurance Regulatory and Development Authority of India (IRDAI).
Let’s uncover more about the free look period from this blog.
What is the free look period in health insurance?
The free look period in health insurance is a short time provided by the insurer after purchasing a policy, during which you can check the terms and conditions of the plan properly. If you’re not satisfied, you can cancel the policy during this period and get the majority of your premium refunded.
Most insurers consider a free-look period of 15 days for the policies purchased in person. This applies to both indemnity and defined benefit plans, giving policyholders a window to review and cancel the policy if they are not satisfied. If the policy is purchased online or through distance marketing, insurers may offer a 30-day free-look period to cancel. This review and cancellation time begins when you accept and confirm the insurance policy.
Things to remember about the free-look period under health insurance
You must know that the free look period is available only for new policies, not renewals. Also, for policy cancellation, you must submit a written request stating the reason.
How to cancel a health insurance policy during the free-look period?
If you are planning to cancel a health insurance for parents or yourself during the free look period, you have to follow the steps below:
1. Submit the cancellation request
You should contact the insurance firm or the agent and then inform them about the cancellation request in writing.
2. Provide the documents
You might have to submit the actual policy document, bank information and ID proof to receive a refund.
3. Reason for cancelling the policy
Many insurance firms might ask you the reason for the policy cancellation. This is only done for record-keeping.
4. Refund process
Once the cancellation gets approved, the insurance firm will process the refund and remove all applicable deductions. All these things are done within 7 to 10 days.
Conditions applied on policy cancellation during the free-look period
Even though the free look period provides plenty of flexibility, there are some conditions that you should keep in check:
- Cancellation requests should be made within 15 days. After that, standard policy terms will be applied.
- If you have claimed during the free look period, the cancellation will not be allowed.
- Premium is refunded after deducting charges like medical examination costs, stamp duty, and proportionate risk premium.
Conclusion
In health insurance policies, the free look period stands out as a consumer-friendly option that safeguards purchasers from picking the wrong plan. It allows you to review the policy properly and then decide whether you want to continue or cancel it without experiencing much monetary loss.
As you take the effort to secure your loved one’s health with a medical insurance policy, let us help you find the right plan for you. Receive personalised health policy-related solutions and advice today by filling out the form on this page.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis or treatment. Please consult a certified medical and/or nutrition professional for any questions. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.