what is the free look period for cancellation a lic policy

POSTED BY mohan kumar ON March 25, 2012 7:16 pm COMMENTS (2)

hi manish
i had taken a tata-aig lic policy on 31.12.2010 and after so many communication i had received it on 28.11.2011. after 7 days i had submitted the original policy bond for cancellation within free look period on 05.12.2011. but tata-aig lic authorities rejected my claim stating that it is not within free look period.
please let me know what is the time frame for free look period for cancellation and on this matter advise me.
mohankumar

2 replies on this article “what is the free look period for cancellation a lic policy”

  1. Dear Mohan Kumar, the free look period is to be counted from the date of policy bond delivered to you. So in your case the free look period ends on 13th Dec 2011.

    Please file a written complaint with TATA AIG first & wait for their response. If the problem is not sorted out. Please file the complaint with the Insurance Ombudsman of your area.

    Thanks

    Ashal

    1. mohan kumar says:

      thank u for ur valuable advice, ashal

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