Wednesday, January 27, 2010

What is meant by cooling off period?

This is something like money return offer within a specific period of policy purchase date if the policy holder is not satisfied with the policy. This is called the cooling off period. The most important thing to note that this cooling off period option is not available with all LIC policies. Mostly this policy will be available with some of the single premium policies. Since the policy holder pays a lumpsum amount in a single time he is given an option to take it back in the cooling off period if he found that the policy conditions are not suitable to him.

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Posted by Balaji at 7:50 AM
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2 comments:

  1. business insuranceDecember 27, 2010 at 1:40 AM

    Thanks ! I am thinking about LIC policy from long time and after reading this post, I can't wait more for it. Surely go for it...:-)

    ReplyDelete
  2. UnknownAugust 31, 2015 at 12:31 AM

    u have given wrong information , i think u have not sufficient knowledge.Do not make falls comment.

    ReplyDelete

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