Every consumer is entitled to a 'cooling off period' or 'free-look period' of 15 days from receipt of his policy contract to review the suitability of the newly purchased Medical and Health Insurance product. If he returns the policy contract to the insurance company during this period, the full premiums would be refunded to him after deducting all the expenses incurred by the insurance company for the medical examination in relation to his application for a Medical and Health Insurance product.
In other words, if a consumer thinks that the newly purchased Medical and Health Insurance product is not relevant to him, he still has 15 days from the date he receives his policy contract to get back his money after deducting all the expenses incurred by the insurance company.
Posts
No comments:
Post a Comment