Can I cancel the Policy purchased through distance mode if it does not meet
my requirements?
In case of disagreement with the terms of the policy under all life contracts and covers
tied to credit/debit/other cards, and for all personal accident and health insurance policy
contracts with a term of 3 years or more, you have the right to cancel the insurance
policy offered by insurers over distance mode within 30 days of receipt of the policy,
provided no claim has already been made on the policy.
Am I entitled to get the details of the conversation based on which the policy
is issued without signing formal proposal?
In all instances where a policy is issued without obtaining a proposal in physical form,
insurers shall forward a verbal transcript of the voice/electronic record of the queries
raised and answers thereto on the basis of which the policy has been underwritten, along
with the policy bond.