FAQ
frequently asked question ( FAQ )
1 What is a life insurance policy?
A Life Insurance policy is a contract between the policyholder and the insurance company wherein the later promises to pay a predefined amount called sum insured to the beneficiary /nominee after the death of the life insured, within the policy period. While the policyholder, to avail the benefits, agrees to pay premiums for a certain period either monthly, half-yearly or yearly.
2 Can I get my policy cancelled once bought?
Yes, if you do not agree to any of the terms or conditions under the policy, you can get it cancelled within the free-look period stating the reason. In a life insurance policy, the free-look period is 15 days from the date of receiving policy documents.
3 Why do I need Insurance?
Insurance is a hedge against the occurrence of unforeseen incidents. Insurance products help you in not only mitigating risks but also helps you by providing a financial cushion against adverse financial burdens suffered.