Almost everyone has heard the famous adage ‘Health is Wealth,’ and the last couple of years have demonstrated us just how much wisdom lies in this age-old saying.
Today, having a health insurance policy has become a necessity to make sure that we are well covered in case there is any health-related exigency. However, before you buy a health coverage you need to understand a few key conditions related to health insurance.
What if, after buying your health insurance policy, you recognize that the conditions and conditions of the policy usually do not meet your requirement or you are not happy with the covers? Don’t assume that you will be stuck, as the choice to cancel the policy and get yourself a refund of your premium exists, that is called the free look period.
Most of the insurers provide a free look period of 15 or 30 days from the date of receipt of the policy document, during which you have the choice to cancel or terminate your new insurance policy and get the due refund. It is highly recommended that you go through the policy document in detail once you have bought the policy so that you are well alert to the policy covers and in case you are unhappy with the conditions you can avail the good thing about the free look period.