Term insurance is a pure type of insurance contract in which the policyholder continues to pay the premium for the set term and the insurer pays the nominee the money insured under the policy.

If you want to cancel your term insurance policy, you should usually contact your insurance company.

Reasons to cancel a term insurance policy


The free-look period is a set length of time provided by your insurer to enable you to thoroughly understand your new insurance policy immediately after purchasing it.

Free-look period

The free-look option is only accessible when a new policy is issued.

Things to Consider When Cancelling Your Policy

Insurance companies will  provide you with a free look period.

How to cancel your term insurance policy

Log in to your insurance company's customer portal, go to the policy cancellation section, and then follow the steps.