It is imperative to remember that you can cancel a health insurance policy only within the first 15 days. These 15 days are referred to as the free-look period. In these 15 days, you are expected to study your health plan, read the policy wordings and then agree to its clauses. If you disagree with any of the details and clauses, then you can have it cancelled within the first 15 days. If that does happen, then the insurance provider will subtract all the expenses incurred during the health check-up, the stamp duty, etc. and then give you the rest as a refund.