Return ULIP policy within the 15 days?

[Vijay09]

If I want to return my ULIP policy within the 15 days free look in period. Are there any charges for this cancellation? Like courier charges, policy return charges etc. Kindly share your experience.

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[Krypton]

Normally insurance company would not charge. But better check the small fine prints of the proposal form, before signing it.

[PolicyWala]

If I want to return my ULIP policy within the 15 days free look in period. Are there any charges for this cancellation? Like courier charges, policy return charges etc. Kindly share your experience.

It is called “COOLING OFF” PERIOD. With in this period, If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy back to the insurance company within 15 days. The insurance company will return back you the premium without asking any question.