Mandatory 14-day window (in Singapore) after a new life policy is issued, during which you can cancel for a full refund minus medicals.
The free look period is a mandatory 14-day window in Singapore (21 days for direct purchase policies) after receiving a new life insurance policy, during which you can cancel and receive a full refund of premiums minus any medical underwriting fees.
It exists to protect consumers from regrettable purchases — especially policies bought under pressure from agents or without enough time to read the terms.
Counts from the date you receive the actual policy document (not from sale date or premium payment).
Insurer must dispatch the policy within 30 days of premium payment. The 14-day clock starts when you receive it.
If you cancel within the window, the insurer must refund premiums paid, minus medical examination fees (if any).
Sum assured matches what you discussed.
Premium amount, frequency, and duration align with the agent's quotation.
Riders and exclusions are correctly listed. Any health conditions disclosed should be addressed (covered, excluded, or loaded).
Surrender values, projected returns, and bonus rates (for participating policies) match the Benefit Illustration.
Free look terms themselves — confirm the deadline date.
Misrepresentation: the policy doesn't match what the agent promised. Documented misselling.
Better offer found: you discover a comparable policy elsewhere for materially less.
Buyer's remorse: you realised the policy doesn't fit your needs after re-reading the documents.
Affordability concern: the premium burden looks unsustainable in the cold light of day.
Always cancel via written notice (email or letter to the insurer's policy admin) within the window. Verbal cancellation may not count — get it on paper.
A mandatory 14-day window (21 days for direct purchase policies) after receiving a new life insurance policy in Singapore, during which you can cancel and get a full premium refund (minus medical underwriting costs). Designed to protect against pressure sales and buyer's remorse.
From the date you receive the policy document, not from when you signed up. Insurers must dispatch the policy within 30 days of premium payment. The 14-day clock starts when the document reaches you.
Sum assured matches what was quoted, premium and frequency match the agent's quotation, riders and exclusions are correctly listed, surrender values and projected returns match the Benefit Illustration, and you're comfortable with the long-term commitment.
Send written notice (email or letter) to the insurer's policy admin team before the deadline. Verbal cancellation may not be honoured — get it in writing. The refund typically lands in your account within 2 – 4 weeks.