Q. Who mandates the free look period in insurance?

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Q. What does the free-look period option of a life insurance plan allow the customer to do?

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Q. Within what timeframe should the free-look option be exercised after receiving the policy?

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Q. What deductions are typically made from the premium refund if a policy is canceled during the free-look period?

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Q. How are changes in the net asset value (NAV) of unit-linked insurance plans during the free-look period handled?

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Q. What is the duration of the free-look period for a life insurance plan?

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Q. What opportunity does the free-look period provide to the customer?

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Q. What is the primary objective of offering a free look period?

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Q. Why is a free look period advantageous for insurance companies?

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Q. What is the timeframe for sending the original documents and cancellation application to the insurance company during the free-look period?

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Q. What deductions are typically made by the insurance company when a policy is canceled during the free-look period?

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Q. In unit-linked insurance plans, how are changes in the net asset value (NAV) during the free-look period handled?

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Q. What details should be clearly stated in a life insurance policy according to regulatory requirements?

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Q. How should the insurer inform the insured about the free look period?

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Q. What additional right does the insurer have in respect of unit-linked policies upon cancellation?

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Q. What obligation does the insurer have regarding the insured's age in policies where premium depends on age?

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Q. How often should the insurer inform the insured regarding claim procedures?

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Q. What is the timeframe within which a life insurance company should process a claim upon receiving it?

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Q. If additional documents are required for processing a life insurance claim, when should the insurer raise queries or request additional documents?

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Q. In case an investigation is warranted for a life insurance claim, when should the insurance company initiate and complete the investigation?

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