Free Look Period Clause Samples
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Free Look Period. The free look period shall be applicable at the inception of the policy and:
a. The insured will be allowed a period of at least 15 days from the date of receipt of the policy to review the terms and conditions of the policy and to return the same if not acceptable
b. If the insured has not made any claim during the free look period, the insured shall be entitled to- - A refund of the premium paid less any expenses incurred by the insurer on medical examination of the insured persons and the stamp duty charges or; - Where the risk has already commenced and the option of return of the policy is exercised by the policyholder, a deduction towards the proportionate risk premium for period on cover or; - Where only a part of the risk has commenced, such proportionate risk premium commensurate with the risk covered during such period.
Free Look Period. All new individual health insurance policies except those with tenure of less than a year shall have a free look period. The free look period shall be applicable at the inception of the policy and:
1. The insured will be allowed a period of at least 15 days from the date of receipt of the policy to review the terms and conditions of the policy and to return the same if not acceptable
2. If the insured has not made any claim during the free look period, the insured shall be entitled to a refund of the premium paid less any expenses incurred by the insurer on medical examination of the insured persons and the stamp duty charges or;
a. Where the risk has already commenced and the option of return of the policy is exercised by the policyholder, a deduction towards the proportionate risk premium for period on cover or;
b. Where only a part of the risk has commenced, such proportionate risk premium commensurate with the risk covered during such period.
Free Look Period. You have a period of 15 days (30 days if the Policy is sold through distance marketing) from the date of receipt of the Policy document to review the terms and conditions of this Policy. If You have any objections to any of the terms and conditions, You have the option of cancelling the Policy stating the reasons for cancellation and You will be refunded the premium paid by You after adjusting the amounts spent on any medical check-up, stamp duty charges and proportionate risk premium. You can cancel Your Policy only if no claims have been made under the Policy. All Your rights under this Policy will immediately stand extinguished on the free look cancellation of the Policy. Free look provision is not applicable and available at the time of Renewal of the Policy.
Free Look Period. The free look period shall be applicable at the inception of the policy and:
(a) The insured will be allowed a period of at least 15 days (Health Insurance policy contracts with a term of 3 years or more offered over distance marketing mode viz. telephone, website, internet, etc. shall have 30 days provided no claim has already been made on the policy) from the date of receipt of the policy to review the terms and conditions of the policy and to return the same if not acceptable
(b) If the insured has not made any claim during the free look period, the insured shall be entitled to o A refund of the premium paid less any expenses incurred by the insurer on medical examination of the insured persons and the stamp duty charges or; o Where the risk has already commenced and the option of return of the policy is exercised by the policyholder, a deduction towards the proportionate risk premium for period on cover or; o Where only a part of the insurance coverage has commenced, such proportionate premium commensurate with the insurance coverage during such period.
Free Look Period a. The Policyholder/Insured may, within 15 days from the receipt of the Policy document, return the Policy stating reasons for his objection, if the Policyholder disagrees with any Policy terms and conditions.
b. If no Claim has been made under the Policy, the Company will refund the premium received after deducting proportionate risk premium for the period on cover, expenses for medical examination and stamp duty charges. If only part of the risk has commenced, such proportionate risk premium shall be calculated as commensurate with the risk covered during such period. All rights under the Policy will immediately stand extinguished on the free look cancellation of the Policy.
c. Provision for Free look period is not applicable and available at the time of renewal of the Policy.
Free Look Period. Within 15 days of the issuance date, the Contract Owner may, if dissatisfied with it for any reason, give the Company a written notice of cancellation along with reasons for the same, and return the Contract documents to the Company, subject to which the Company shall send to the Contract Owner a refund comprising the first contribution paid less the proportionate risk contribution for the period the Life Assured was covered and the expenses incurred on medical exams. The refund paid to the Contract Owner will also be reduced by the amount of any reduction in the Investment Accounts value, if any, due to a fall in the unit prices between the date of allocation and redemption of units.
Free Look Period. The free look period shall be applicable at the inception of the policy and:
Free Look Period. The Participant, within fourteen (14) days of the receipt of the Certificate of Takaful, may cancel the Certificate by returning the Certificate to the Takaful Operator. The Takaful Operator shall refund any contribution paid by the Participant.
Free Look Period. 8.1.1. You have a period of 15 (Fifteen) days from the date of receipt of this Policy to review the terms and conditions of this Policy. If You disagree to any of the terms or conditions of this Policy, You have an option to return the original Policy to Us by stating the objections/ reasons for such disagreement. Upon return of this Policy by You, this Policy shall terminate forthwith and all rights, benefits including death benefit and interests under this Policy shall cease immediately. We will only refund the Premiums received by Us, after deducting the proportionate risk Premium for the period of cover, charges of stamp duty paid and the expenses incurred on medical examination of the Life Insured, if any.
Free Look Period. You have a period of 15 days (30 days if the Policy is sold through distance marketing) from the date of receipt of the Policy document to review the terms and conditions of this Policy. If You have any objections to any of the terms and conditions, You have the option of cancelling the Policy stating the reasons for cancellation and You will be refunded the premium paid by You after adjusting the amounts spent on any medical check-up, stamp duty charges and proportionate risk premium. You can cancel Your Policy only if no claims have been made under Acko General Insurance Limited Secure Shield Acko General Insurance Limited 3rd Floor, F-wing, Lotus Corporate Park, Goregaon East, Mumbai, Maharashtra 400063 IRDAI Reg No: 157 | CIN: U66000MH2016PLC287385 | UIN: ACKHLGP19065V011819 ▇▇▇.▇▇▇▇.▇▇▇ | Toll free: ▇▇▇▇ ▇▇▇ ▇▇▇▇ | Mail: ▇▇▇▇▇@▇▇▇▇.▇▇▇ Page 9 of 25 the Policy. All Your rights under this Policy will immediately stand extinguished on the free look cancellation of the Policy. Free look provision is not applicable and available at the time of Renewal of the Policy