Question: I just received my new life insurance policy documents by post in India. I'm having second thoughts about a few clauses. How many days do I have to review the policy and return it for a refund if I decide I don't want it?
Answer: 30 days from the date of receiving the policy document - this free-look period is now uniform for all policies (physical or electronic) with a tenure of one year or more, regardless of purchase mode. It is no longer split into 15 days for physical and 30 days for electronic policies.

Supporting evidence:
title: irdai.gov.in/28bc0de5-222f-ba8d-60d3-1a2181bb41c7
quote: The free look period for the policies, obtained through any mode, shall be 30 days from the date of receipt of the policy document
context: or rendering any other services in relation to the assignment or transfer of insurance policy in accordance with Section 38 of the Act.

25. Free Look Period of Life and Health Policies

- (1) Every policyholder of life and new individual health insurance policies except those with tenure of less than a year, shall be provided a free look period from the date of receipt of policy document, whether received electronically or otherwise, to review
the terms and conditions of such policy.
- (2) The insurer shall inform clearly and explicitly to the policyholder about the free look period. The free look period for the policies, obtained through any mode, shall be 30 days from the date of receipt of the policy document.
- (3) In the event a policyholder disagrees to any of the policy terms or conditions, or otherwise, he shall have the option to return the policy to the insurer for cancellation, stating the reasons for the same. Thereafter, he or she shall be entitled to a refund of the premium paid subject only to a deduction of a proportionate risk premium for the period of cover and the expenses incurred by the insurer on medical examination of the proposer and stamp duty charges.
- (4) In respect of a linked insurance product, in addition to the deductions under subregulation (3) above, the insurer shall also be obligated to repurchase the units at the price of the units on the date of cancellation.
- (5) A request received by insurer for free look cancellation of the policy shall be processed and premium shall be refunded within 7 days of receipt of such request, as stated at sub clause (3) and (4) above.

26. Principles for Policyholder Servicing

- (1) Every insurer shall ensure that the prospect or the policyholders are provided with necessary information about various services and shall widely disseminate information about all the services that may be availed along with the procedure for availing such services including the turnaround times.
- (2) The insurer shall deliver the services requested for within a reasonable time with speed and efficiency and establish a mechanism to obtain feedback for continuous improvements.
- (3) Every insurer and distribution channel involved in servicing of the policyholders shall ensure that all the dealings with policyholders are conducted in a manner such that it achieves the following outcomes:
4. (i) Policyholders are
- a. treated with fairness and impartiality;
- b. provided with clear and prompt information in re