Free Look Period of Health Insurance: Nothing To Stress Over in 2025
It was January 2025 when Priya in Pune bought an online healthcare insurance policy as her first ever policy. She was busy like most young professionals, and she selected the policy by digital reviews. A week later when she was reading through the paperworks in-depth, she discovered that the policy does not provide cashless hospitalisation in the hospitals she likes. She got panicked as she had felt that her high end is squandered. However, she became aware of the free look period on health insurance, a little known relaxation period to the policy holders such as her.
So just in case you didn t know. India Almost 31 percent of health insurance customers in 2024 indicated that they did online, purchase; however, more than 19 percent of them indicated that they wanted modifications after reading the final policy documents.
Health insurance: free Look Period In A glance
Free look period in health care insurance is a customer-friendly initiative by the insurance regulators. It enables you to examine your new health policy and withdraw it in case it is not the thing you want, without penalty. The concept is even more significant in 2025 when more Indians started buying health covers online, using websites and companies such as Fincover.com.
Main Details of Free Look Period
- Gives you 15 to 30 days (depending on mode of purchase) to review your health insurance policy
- Gives full refund minus small fees on cancellation
- Helps one compare choices and specifically when purchasing health insurance online
- It now became applicable across individual and family floater health plans purchased in India
What is Free Look Period Under Health Insurance?
Why is Free Look Period good to the Policyholders?
The open look period refers to a certain period after you have reached your new health policy document where you have to look at the coverage, terms, exclusions and benefits. In case you do not agree with anything, you can cancel the policy without providing any explanation.
Policy terms or wordings made by policyholders are misinterpreted. Perhaps, you can spot undocumented waiting periods or find out that your pre-existing sickness is not covered at all as you believe. This is whereby the free look cancellation comes to your rescue.
Sunlights on Free Look Period in Health Insurance
- Time after policy receipt (not purchase date) to review terms
- No penalty or minus marks in your policy record once you cancel
- First-time or electronic shoppers assurance
So just in case you didn t know. The insurance regulator, IRDAI has made it mandatory to provide a free look period of at least 15 days on all health insurance policies purchased in India.
What is the Number of Days For the Free Look of a Health Insurance?
How long is Free Look Period in 2025?
The free look period for health insurance is set by the Insurance Regulatory and Development Authority of India (IRDAI). By 2025, these are the days you will have:
| Policy Purchase Mode | Free-Look Period in Health Insurance |
|---|---|
| Whereas offline using agents | 15 days after the document is received |
| On line/electronic | 30 days of receipt of document |
This gives the digital buyers further time to read through the terms as opposed to the offline traditional buyers.
Some Main Points to Keep in Mind
- The period begins the day you receive the policy document, not the day you paid!
- When purchasing an app or through a place like Fincover.com, you will be given up to 30 days.
- Such a feature with life insurance policies can also be different in their duration.
Expert Insight: “Customers often overlook the free look period, but it is the best way to make sure your health cover fits your family’s real needs,” says Sunil Agarwal, Senior Underwriter at a leading insurer in 2025.
Why Should You Have the Free Look Period in the Health Insurance?
What do the Common Policyholder Benefits?
The free look period in health insurance is thus, so important to all Indians because of the following reasons:
Main Benefits
- Peace of mind: Provides you with time to learn about what is covered.
- Right to Cancel: You do not have to bind on a policy that catches you unawares.
- No Loss of Money: Only minimal expenses such as Stamp duty or medical test provided it is so, are deducted.
- History No Mark In Insurance: Cancellation, in this case, does not diminish your future possibility to obtain insurance.
What Situations Can You Use Free Look Period?
- In case the pre-existing disease of your spouse or child is not an exclusion.
- Your needs are not suitable to hospital network list.
- There is premium loading resulting in high premium.
- Closure begins later, or the delay exceeds the anticipation.
Highlights of Free Look Period Highlights
- Open and controlled procedure
- Doctors, family and personal health insurance were covered
- Digital buyers are not bound to them but given more time (twice the time) to make purchases online
So just in case you didn t know. According to the Fincover annual digital insurance report, in 2024, more than 55 percent of customers who cancelled during the free look period did so because they didn not understand the terms correctly, or there were exclusions.
What is the Way of Placing Free Look Period Cancellation Request in Health Insurance?
How can I Cancel Your Policy? Step by Step.
It is easy to cancel a health insurance policy within the free look period with some rules to be adhered to.
Step-by-Step Process
- Policy Receipt Date: write the date on which the policy document has been sent to you.
- Contact Insurer or Online Portal: If purchased online via Fincover.com, login and select the policy, then click ‘Initiate Free Look Cancellation.’
- Submit Reason in Writing: You do not have to give detailed reasons, but mention why it is unsuitable (eg. wrong coverage, missing hospital, etc).
- Included Important Docs: Copy of policy, Id proof and premium receipt, bank details to claim the refund.
- Insurer Reviews Requests: They can ask you to explain or to send paperwork.
- Refund Processed: Your refund (minus minimal charges such as stamp duty and medical exam, if any) is processed within 7-15 working days.
Remembering Points
- Retain all communication and mails as evidence.
- In case your insurer offers an app or an online platform, use it; platforms such as Fincover.com allow comparison and simplify the tracking process, which accelerates the cancellation.
- Do not hesitate because the claim should be lifted during the stipulated free look period.
Expert Insight: Such a refund is processed within 10 days by the majority of the leading insurers such as HDFC Ergo, ICICI Lombard, and Star Health in collaboration with online portals, as of 2025.
What Gets to be Deducted as Charges on a Cancellation under Free Look Period?
Are Customers Refunded Premium of Health Insurance?
In case you cancel health insurance during the free look period, you obtain back most of your premium. There are some costs though which may be subtracted, e.g.:
Standard Deductions
- Development of policies that lead to payment of stamp duty on policy issuance Stamp duty on policy relaxation
- Medical examination fee (if the insurer arranged it and you took it)
- Proportionate risk premium (for the days you were covered, if at all)
Example Calculation
Assume that you took yearly premium of 20,000 rupees. In case the stamp duty was 300 rupees and insurance against risk of 5 days was 150 rupees, you will get back 19550 rupees.
| Component | Amount (Rs) |
|---|---|
| Premium Paid | 20,000 |
| Less: Stamp Duty | 300 |
| Less: Exam Fee | 0 |
| Less: Risk Coverage (5 days) | 150 |
| Total Refund | 19,550 |
Key Highlights
- Majority of the population receives more than 97 percent of their amount of money they paid.
- No second order penalties.
- Charges will always be indicated in your calculation sheet of refund.
- In case of refund, it is automatically charged in your bank account.
What is the Difference between Free Look Period and Policy Grace Period?
Are Free Look Period and Grace Period the Same in Health Insurance?
No, the free-look period and the grace period of the health insurance is totally different.
| Free Look Period | Grace Period |
|---|---|
| Purpose: Inquiry and refund policy | Renewal of premium within time |
| When: following expiry period of new policy | After following the expiry period of new policy |
| Duration: 15/30 days | Typically, 15-30 days |
| Use result: Refund or disregard | Take cover further |
Free look period is reviewing and cancelling time of a newly purchased health policy. A missed renewal can only be paid up during a grace period.
So just in case you didn t know. According to a 2025 survey by Fincover, 37 percent of Indian people confuse the two terms and lose their rights.
Which Health Insurance does not have Free Look Period in 2025?
Are Free Look Cancellation Available To All Kinds of Policies?
The free look period IRDAI requires is provided in all standard retail health insurance policies sold in India, whether individual or the family floater.
Policies Covered
- Personal health insurance
- Family floater health The family floater health covers
- Health plans of senior citizens
- Substantial illness covers
Not Applicable Of
- Group health insurance (provided by employers)
- Corporate hospitalisation entails
- Short term travel health entails
Highlights
- Free look window is provided by every big insurer such as Max Bupa, Bajaj Allianz, Apollo Munich etc.
- When you use an online buying site such as Fincover.com, it will track your window much easier.
- This right is always mentioned in product brochures and websites.
Is a Reapplication/ Port Policy possible after Free Look Cancellation?
What do you do once you cancel a policy within free look period?
- You are at liberty to obtain a new health plan at any time.
- At Fincover.com you can compare other options to your need and apply online.
- It does not affect your insurance image or CIBIL score adversely.
- The waiting periods, pre-existing disease, and underwriting will be on new application basis rather than the cancelled one.
Pro-Tip
Avoid using the free look period except in a dire need as each time is a fresh medical underwriting.
Attempt to settle on the correct plan by contrasting on authorized sites.
Consecutive applications of each new policy are considered on a case-to-case basis.
So just in case you didn t know. By 2025, health insurance platforms, such as Fincover, give you the opportunity of comparing more than 20 plans, as well as assist digitally in the free look cancellations eliminating the inconvenience of having to handle paper work.
Errors to be Avoided in Free Look Period of Health Insurance
Simple mistakes leave many Indians without refunds or left confused.
Top 5 Basic Mistakes
- Neglecting policy delivery date and passing the window.
- Completing uncompleted posts relating to cancellation requests.
- Not preserving original copies (physical or electronic) of policy document.
- Submission after an additional 15 or 30 days.
- Based on just the word (not the written word) of the agent.
Tips:
- Never send the request in any other way than via email, or an app.
- Screenshot with time, in case you are doing it through portal such as Fincover.
- Pay attention to your policy documents immediately that they are received.
Which Paperworks are Needed to Cancel the Free Look?
Return Policy Documents List
- Original policy bond or softcopy (if emailed)
- Written cancellation request signed by all the insured members
- Government-issued photo ID (Aadhaar, PAN, etc)
- Receipt copy of high priced value paid
- Bank account information or cancelled cheques to be re-imbursed
The insurer can also demand a brief justification of cancellation only as a formality.
Comparison: Free Look Period of health cover Vs Life cover
| Quality | Health Insurance | Life Insurance |
|---|---|---|
| Duration | 15 days (offline), 30 (online) | 15-30 days (as per policy) |
| Deductions | Stamp duty, risk cover, exams | Stamp duty, risk cover, medical |
| Refund Timeline | less than 15 working days | 15-21 working days |
| Negative Reporting | None | None |
| Where Applicable | Individual or family | All retail life plans |
Health Insurance: Takeaways on Free Look Period
- In India, all novel retail health insurance policies will have amplified review and revoke duration of 15 days that is expanded to 30 days in case of online purchases.
- The money returned is within days at minimal charges.
- Policy window begins on the day you get policy documents and not on the day you pay.
- There is no penalty, no reduction of insurance credit profile.
- Download trusted online websites such as Fincover.com for easy plan comparison and cancellation.
- This window is not allowed by group health policies-it is allowed through individual and family health plans.
Professional Knowledge: As more consumers are shopping online to purchase insurance in 2025, professionals will advise readers to pay careful attention to reading the entire policy document, and the free look period should serve as a contingency policy.
People also Ask – Free Look Period Health Insurance FAQ
Q1. When are my free look period start dates?
Your policy is effective as of the date you take delivery of either the hardcopy or softcopy of a policy document and not the date of premium payment online.
Q2. Will free look period apply in case of a renewal of my policy?
No, it is not applicable in case of renewal of existing policies on regular basis.
Q3. May I use the free look period again and again?
Sure, you can afford to do so when you purchase a new policy every time. It has no impact on future applications or insurance score.
Q4. Will the free look period usage have any impact in future processing of my claim?
No, this will not affect future claim odds or insurance history by canceling inside the free look period.
Q5. What happens when my agent is not willing to assist in cancellation of free look?
You can go to the customer care of the insurer directly, make the request on their app or use some online aggregator systems such as Fincover.com that will give you support starting with the request, ending up with making the payment.
Q6. What is Grace period and free look period?
Free look period is an examination and cancellation of a new policy after the policy has been issued; grace period is an extension to make a late renewal premium.
Q7. How much will I get deducted on my refund in case I cancel during free look period?
Only basic charges like stamp duty, medical exam fee, or minimal risk cover (for days covered) are deducted and disclosed upfront.
Q8. Does all forms of health insurance in India allow free look period?
The only retail health policies that have this benefit include the individual and family, not group plans, and not employer provided covers.
Once you know about the free look period of health insurance in the year 2025, and use it to your advantage, you remain in control of ensuring the best cover to you and your family anywhere without regrets or high bills.