We have received your request for freelook cancellation and would like to highlight that having sufficient life cover is a necessity in today’s time. This policy has been designed to cater to the needs of our customers, and it has the right mix of benefits & returns, that will match your long-term insurance strategies.

 

Keeping our promise of protecting your loved ones, we have customised our products to cover for COVID-19 as well. During this time of the COVID-19 epidemic, we strongly recommend that you continue with this policy and keep the life insurance cover of Rs. xxxx for the financial protection of your loved ones intact.

 

We would urge you to reconsider your decision to cancel the policy to reap the benefits of this plan in future.

 

key benefits

 

If you still wish to proceed with freelook cancellation, please follow the steps mentioned below:

 

Step 1: Duly-fill and sign the copy of the attached freelook cancellation form.

Step 2: Visit nearest Tata AIA life insurance branch with the documents listed below:

 

  1. Freelook cancellation form (as attached).
  2. The original policy documents within the freelook period (i.e. 15 days from the day you receive the policy document & For EIA Linked policies- 30 days from the date when policy converted into EIA Account).
  3. Identity and Address proof of the policy holder.
  4. Masked Aadhar card.
  5. Duly signed personalized cancelled cheque with printed customer name, account number and IFSC code or provide self-attested bank passbook copy/ self-attested bank statement (not more than one month old). 
  6. NEFT form (as attached).

 

Note: Masked the Aadhar card number on the true copy whenever it is submitted-only last four digits should be visible, remaining should be masked/not visible.

 

Your freelook period is active till LASTDATE and you can submit your documents latest by LASTDATE to process your request for freelook cancellation.

 

Post receipt and due assessment of the documents, your request will be processed within 6 days. Kindly note that if documents are submitted post LASTDATE, we shall be unable to process the freelook cancellation request.

 

  1. The plan chosen by you is a Unit Linked Insurance Policy (ULIP) which is a combination of insurance coverage and market related investment. Unit linked Insurance products are subject to market risks which affects the Net Asset Value (NAV).

    Hence the freelook charges will be calculated basis the NAV i.e. Market Value changes/fluctuations for the investment. 

 

Kindly note below mentioned charges that would be deducted on freelook cancellation of your policy.

  • Stamp duty charges @ ₹20 (per Lac/ Sum assured amount) + medical charges in case if any + Goods & Service Tax
  • In case of Unit Link policy Market Value changes/fluctuations for the investments losses/ gains + Cost of Insurance + Goods & Service Tax

 

You can also visit our below branch address to submit your documents:

  • Branch Timings: 10.00 am to 03.00 pm from Monday to Friday (Please note that we are closed on Sundays & Public Holidays).
  • Branch address: 

Created: 05/10/2022 09:53:11
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