There is a free look period of 15 days (if you purchase this policy online, then the free look period will be 30 days) to cancel the insurance policy.
If the policyholder wants to cancel the policy, then he does the cancellation by stating the reasons for objections. There are some deductions applicable in refunding the premium paid.
If you are planning to surrender the insurance policy after the free look period, then you have to wait for 2 years.
The lock-in period to surrender the insurance policy is two years.