Question

During the Free-look period, if the policyholder, who has bought a policy through an Agent, disagrees to any of its terms and conditions, he/ she can return it and get a refund subject to the following conditions:

a.

He/ she can exercise this option within 15 days of receiving the policy document

b.

He/ she has to communicate to the company in writing

c.

The premium refund will be adjusted for proportionate risk premium for the period on cover, expenses incurred by the insurer on medical examination and stamp duty charges

d.

All the above

Posted under IC38 Life Insurance Agent Exam

Answer: (d).All the above Explanation:During the free-look period, if the policyholder disagrees with any of the policy's terms and conditions, they can return it by following these conditions: They must communicate in writing to the company within 15 days of receiving the policy document, and the premium refund will be adjusted for the proportionate risk premium, expenses incurred by the insurer for medical examination, and stamp duty charges.

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Q. During the Free-look period, if the policyholder, who has bought a policy through an Agent, disagrees to any of its terms and conditions, he/ she can return it and get a refund...
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