1 What is policy withdrawal?
Policy withdrawal is usually done by the insurer where the current policy is not going to be sold any longer. Under such circumstances, the insurer offers you a similar product on renewal of the policy.
2 What happens if I cancel the policy?
It’s never a good idea to cancel the policy as it protects your health and wallet. However, if you do, the cover ceases immediately and you might get refund of some part of the annual premium.
3 How can I cancel my health Insurance?
There is a Free Look cancellation period of 15 days from receipt of policy document. If you cancel later on, you might get refund of some part of the annual premium. You will need to approach your Insurer for cancelling a policy.