Govt Plans 1-Year Free-Look Period for Insurance:
The Indian government has proposed extending the ‘free-look’ period for insurance policies from the current 30 days to one year. This move is expected to help policyholders review their insurance terms carefully and prevent mis-selling in the industry. The proposal, announced by the Department of Financial Services Secretary M. Nagaraju, is part of broader regulatory changes aimed at improving transparency in the insurance sector. Public sector insurers have already been instructed to implement this extended period, while private insurers are being encouraged to follow suit.
