Free Look Provision Sample Clauses
A Free Look Provision allows a policyholder to review an insurance policy for a specified period after receiving it, during which they can cancel the policy without penalty. Typically, this period ranges from 10 to 30 days, and if the policyholder decides to cancel, they are entitled to a full refund of any premiums paid. This clause provides consumers with the opportunity to thoroughly assess the policy's terms and suitability, ensuring they are not locked into an agreement that does not meet their needs.
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Free Look Provision. The MEMBER may terminate this Agreement by giving a written notice within fifteen (15) days from his/her receipt of the contract. The MEMBER may cause the termination of this Agreement provided the membership lD Cards and this Agreement are surrendered to MediCard within the same period. If payment was made by the MEMBER, the amount shall be returned in full to the MEMBER. MediCard shall thereafter terminate the membership and the termination provision of this Agreement shall apply. Failure to terminate this Agreement within the period set shall be understood as an acceptance of all terms and conditions provided hereunder. Any availment of a MEMBER within the fifteen (15) - day period shall also mean acceptance by the MEMBER of all the terms and conditions of this Agreement.
Free Look Provision. On receipt of Policy document, the Policyholder should review the Terms and Conditions of the Policy. In case Policyholder is not satisfied with Terms and Conditions as stated in the Policy, he has an option to return the Policy to the Company within 15 (30 days if policy is bought through Distance Marketing) days of its receipt, with a written request for cancellation, stating reasons for the same. On such cancellation of the Policy, the Company will refund the premium after deducting a reasonable cost of insurance for the period on cover, expenses incurred towards medical examinations carried out and stamp duty.
Free Look Provision a. The free look period shall be applicable at the inception of the Policy and is not applicable and available at the time of Renewal of the Policy or in cases of Portability.
b. You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy.
c. If You have any objections to any of the terms and conditions, You may cancel the Policy stating the reasons for cancellation and provided that no claims have been made and the Second Medical Opinion has not been availed under the Policy.
d. We will refund the premium paid by You after deducting the amounts spent on pre-insurance medical check-up (if any), stamp duty charges and proportionate risk premium for the period of cover.
e. Your rights under this Policy will immediately stand extinguished on the free look cancellation of the Policy
Free Look Provision a. The free look period shall be applicable at the inception of the Policy and is not applicable and available at the time of Renewal of the Policy or in cases of Portability.
b. You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy.
c. If You have any objections to any of the terms and conditions, You may cancel the Policy stating the reasons for cancellation and provided that no claims have been made under the Policy.
d. We will refund the premium paid by You after deducting the amounts spent on pre-insurance medical check-up (if any), stamp duty charges and proportionate risk premium for the period of cover.
e. Your rights under this Policy will immediately stand extinguished on the free look cancellation of the
Free Look Provision. If any Contract or Policy is redeemed at any time or if within forth-five (45) days after confirmation by the Insurance Companies of any premium payments credited to a Contract or Policy, that Contract is tendered for full or partial surrender, or the life at risk thereunder dies, then, at the option of the Insurance Companies or Underwriter, no commission will be payable with respect to such premium payments and any commission previously paid for said premium payments must be refunded to the applicable Insurance Company or Underwriter as directed by Underwriter. Underwriter agrees to notify Broker/Dealer with ten (10) business days after the request for repurchase or redemption, or notification of death of the life at risk is received by the applicable Insurance Company.
Free Look Provision. If You cancel within the first thirty (30) days, We will refund or credit the full purchase price of the Service Contract. This provision applies only to the original purchaser of the Service Contract, and is not transferable.
Free Look Provision. If any Contract is redeemed at any time or if within the applicable free look period after confirmation by the Insurance Companies of any premium payments credited to a Contract, that Contract is tendered for full or partial surrender, or the life at risk thereunder dies, then, at the option of the Insurance Companies, no commission will be payable with respect to such premium payments and any commission previously paid for said premium payments must be refunded to the applicable Insurance Company. Insurance Companies agree to notify Broker/Dealer within ten (10) business days after the request for repurchase or redemption or notification of death of the life at risk is received by the applicable Insurance Company.
Free Look Provision. If You cancel within the first thirty (30) days, We will pay a penalty of 10% per month on a refund that is not paid or credited within thirty (30) days after return of the Service Contract to Us. This provision applies only to the original purchaser of the Service Contract, and is not transferable.
Free Look Provision a. The free look period shall be applicable at the inception of the Policy and is not applicable and available at the time of Renewal of the Policy or in cases of Portability.
b. You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy.
c. If You have any objections to any of the terms and conditions, You may cancel the Policy within 15 days period mentioned above stating the reasons for cancellation and provided that no claims have been made under the Policy.
d. If no claim has been made during the Free Look period, You shall be entitled to:
i. 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;
ii. 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;
iii. Where only a part of the insurance coverage has commenced, such proportionate premium commensurate with the insurance coverage during such period.
e. Your rights under this Policy will immediately stand extinguished on the free look cancellation of the Policy.