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Request Letter for Free-look Cancellation of Insurance Policy

Policyholders are granted a free look period, which allows them to cancel their insurance policy without being subjected to surrender charges. If the policy is returned within this designated period, the insurance company will reimburse the first premium paid. The free look cancellation period is typically set at 15 days from the date of policy issuance.

The free look period grants you an ample amount of time to thoroughly review the life insurance particulars outlined in the policy documents. Within this period, you have the opportunity to comprehend the terms and conditions of the policy before making a decision to commit to a long-term investment.

Hereunder is an example of a request letter to the insurance company for free-look cancellation of your insurance policy.

TEMPLATE

Date: ________

_____________ Insurance Company,
___________ Branch
(Address)

RE: Request for free-look cancellation of policy number ____________.

Dear Sir/Madam,

I have received the aforementioned Policy Document on (Date).

The terms and conditions of the policy do not meet my satisfaction. Therefore, I kindly ask for the cancellation of my policy under the Freelook Cancellation and for the premium to be refunded as per the policy guidelines.

I acknowledge that canceling the policy will result in the termination of the insurance contract, causing all rights and titles under the policy to be terminated.

I am fully aware that upon receiving the refund of the premium amount from the insurance company, their responsibilities under the policy will be completely fulfilled. I hereby agree not to pursue any further claims or requests thereafter.

Enclosed are the original policy document and the first premium receipt.

Please do the needful and oblige.

Yours faithfully,

Signature of the Policyholder: _________________.
Name of the Policyholder: ______________________.
Address of the Policyholder: ___________________.

Signature of the Witness: ___________________.
Name of the Witness: ________________________.
Address of the Witness: _____________________.

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