New Insurance Policy? How to Use Your Free-Look Period
Eligible new life and individual health policies give you thirty days from receiving the policy document to review it. Whether you chose the policy with an advisor, on your own or on family advice, check the cover, exclusions, waiting periods and the premium you will keep paying. If it does not suit you and you have not made a claim, ask the insurance company to cancel within the free-look period, giving your reasons. A refund is subject to applicable deductions. Need a second opinion? Ask your advisor before the free-look period ends.