Can i return a 20 yr money wager on policy in a minute, the cheque be deposited on 11 Feb 08 but Bond received not nonetheless?
I want to know about the cooling sour period surrounded by 20 year money back policy. The agent sold me this policy but I have asked for a ULIP
you should also take attention to detail when you sign documents. you should contant the lic office & inform them that you hold not received policy & you want to close the policy.
You can send for the company and request a refund. Attention is drawn here to the Insurance ppl resembling Agents and Development officers.
This is a shield of "miss-selling" of Insurance products. Before this guy goes to the I.R.D.A. beside a complaint, solve his problem.
He could have returned the policy inside 15 days ( now this rule have been stipulated by IRDA )... but the cunning Insurance Cos. do not vigilance to reach the Policy Bonds inside a fortnight ... now he is not ready and want to return the Policy .?
Answer/s is/are awaited.
Answers: Usually the cooling off extent is 15 days - i.e. the policy can be returned within the said time of year after some deductions. But the problem is the policy holder receive the bond sometime between 1month to six months. Contact your branch right now. In this luggage your agent may have to answer some question regarding the mis selling of the policy.