How Long is the Free Look-up Period for Your Insurance?

Insurance is one of the most important social security tools that you can buy to safeguard your financial situation as well as your health.

We primarily buy insurance to secure our family financially at the time of the death and if hospitalized, a financially viable healthcare treatment.

Insurance also provides a sense of security for the family and safeguard the wealth of the family if any of the family member covered under insurance is hospitalized.

In India, the Insurance sector is considered to be one of the prime sectors where every year FDI is increasingly coming. Indians are one of the least insurance-secured people in the world but this is soon going to change.

By 2030, India will overtake Germany, Japan, Canada, and Italy to become the sixth-largest insurance sector in the world. All these give rise to more competitive and high-quality insurance product which in turn provides a greater value to the insurance seeker.

One of the key features that insurance product comes with is the Free Look-up Period. A free Look-up period is a feature that allows you to review the insurance for a certain period after buying the insurance and back down cost-free if you do not like this.

It is not just that but has some eccentric details that will make it a unique feature. In this article, we will discuss how Long is the Free Look-up Period for your insurance, important details related to the free look-up period, etc.

But first, let’s find out what the is Free Look-up Period.

How Long is the Free Look-up Period for Your Insurance

What is the Free Look-up Period?

A Free Look-up Period is a period provided by the insurance company to the policyholder who recently purchased the insurance policy, to review the policy.

During this period, the insurance policy will be fully applicable and at the same time, the premium payments made towards the insurance will remain intact if you were to decide to back down from the insurance policy.

Usually, the free look-up period is provided to the policyholder anywhere from 15 days to 30 days from the date of purchase. Insurance companies provide you an option to purchase the insurance policy online or offline through an agent, in either case, you’ll be provided adequate time for a free Look-up period.

How Does Free Look-up Period Work?

The free look-up period is a period during which if you do not like the policy that you’ve purchased or find any policy feature that is not suitable for you then you can opt out of the insurance policy without losing any money.

During this time, the policy will be fully enforced and your insurance will be applied to the policyholder however, any sort of conditions like maturity, and policy applicability will not be taken away.

If you choose to step out of the policy, then you can simply contact your agent or visit the nearest insurer’s office and start the cancellation of the policy process.

You can also do that online by visiting the official portal of your Insurer and navigating to the cancellation of the policy. If you are in the free look-up period, you’ll be automatically considered a free look-up period user and your policy will be treated as per that. Otherwise, your policy will be canceled normally.

Important Details on Free Look-up Period

There are some important details which is essential to know if you want to know everything about the Free Lokk-up Period, which is as follows-


The duration of the free look-up period is anywhere from 15 days to 30 days depending on the channel of your purchase. If you’ve purchased the insurance through an insurance agent then the free look-up period window is 15 days and if you’ve purchased it online then you’ll be provided with 30 days as a free look-up period.


During the Free Look-up period, the policyholder has a right to cancel his/her policy without incurring any cost like penalties, charges, etc. and you’ll be refunded fully.

Refund Process

If you choose to cancel the policy during the free look-up period, the refund process will initiate and you’ll be able to receive the refund usually via the chancel of payment used for premium payments.

Policy Changes

If policyholders identify any discrepancies, errors, or aspects of the policy they are not comfortable with, they can request modifications or clarifications from the insurance company.


What is the purpose of the free look-up period?

After purchasing the insurance, a free look-up period offers you a risk-free and worry-free period which you can utilize to scrutinize the policy and further understand different policy terms and conditions. If during this period, you do not like the policy or want some modification in the terms then you can certainly do that and also cancel the policy without incurring any cost. Meaning in case you’ve canceled the policy, your entire premium amount payment will be refunded.

Can I cancel any type of insurance policy during the free look-up period?

Yes, you can cancel any type of insurance like life insurance, health insurance, etc. during the free look-up period without incurring any cost.

Can I still cancel my policy after the free look-up period?

Yes, you can cancel the insurance policy whenever you want however, after the free look-up period you will have to pay penalties or charges for cancellation of the policy.

For how many days is the Free look-up period provided?

Typically, the free look-up period consists of 15 days minimum but if you have bought an online insurance policy then the free look-up period is 30 days.