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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.
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Cancellation of policy I hereby submit that I am the owner of an insurance policy number.. I understand that as per the terms and conditions of the policy contract, I can avail freelook cancellation of within 15 days of the receipt of the policy contract.
Key Takeaways. The free look period is a period of time, typically 10 to 30 days, in which a new life insurance policy owner can terminate the policy and have their premium refunded. Canceling during the free look period will incur no penalties, such as surrender charges.
If you plan to cancel the policy during the free look period, being a senior citizen (above 60 years of age), an NRI customer, or if there is no local Max Life branch available in your city, log in to your Max Life account and submit your request for policy cancellation within free-look period.
Yes, you can, although the only way to get back all your premium payments is to do so during the initial free look period. However, depending on the policy type and circumstances, you may receive some money from surrendering a whole life policy that has accumulated sufficient cash value.
It starts from the date of receipt of your policy document. During this period, you should review your policy to see if it meets your needs. If you decide not to keep it, give the company written notice of cancellation and the company will terminate your policy and provide the appropriate refund.
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The surrender value of Max Life insurance policy is calculated as a Single premium multiplied by 75% of the outstanding term to maturity/ total term.
The Freelook cancellation request can be submitted with the required documents in any of the following modes: At the nearest PNB MetLife Branch (Locate Branch) At our registered office addressed to: Policy Servicing Unit. Apply online through our company website (Apply for Freelook)
Key Takeaways. The free look period is a period of time, typically 10 to 30 days, in which a new life insurance policy owner can terminate the policy and have their premium refunded. Canceling during the free look period will incur no penalties, such as surrender charges.

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