IRDAI of India (Protection of Policyholder's Interest) Regulation 2002 gives a 15 days 'free look' period from the date of receipt of arrangement report. As a policyholder, you can analyze the protection strategy and quit in the event that you are not fulfilled by any conditions/highlights said in the arrangement.

You have purchased another protection approach and got the arrangement archive and find that the terms and conditions are not what you needed.

What do you do? Smile and bear it?

Not in the least.

IRDA has incorporated with its directions a shopper well disposed procurement that takes mind this issue.

On the off chance that you have purchased an arrangement and acknowledge you don't need it you can return it and get a discount.

There are conditions however.

This applies just to Life protection strategies and

To Health protection strategy that are for a term of no less than 3 years

You can practice this choice inside 15 days of getting the approach archive

You need to impart to the organization in composing

The premium discount will be balanced for proportionate danger premium for the period on spread costs caused by the guarantor on therapeutic examination and stamp obligation charges