ACKO Life Home / Acko Life Insurance Cancellation and Refund Policy

Acko Life Insurance Cancellation and Refund Policy
Jump Tag Icon

We will be sad to see you go however, we will try to make the cancellation and refund process as effortless as possible.

1. What is the Free Look Period for an ACKO Life Insurance policy?

The Free Look Period is a 30-day window from the date you receive your policy document, during which you can review the terms and conditions. If you are not satisfied with the policy, you can request a cancellation and receive a refund.

2. How can I submit a request for Free Look Cancellation?

You can initiate a Free Look Cancellation through any of the following convenient channels:

  • ACKO App (Recommended): Log into the ACKO app, navigate to your active policy, and select the Free Look Cancellation option to submit your request directly.

  • Email: Send a cancellation request from your registered email ID to ACKO Customer Support.

  • Call Centre: Call our customer support team to lodge your cancellation request with an executive.

3. How much refund will I receive upon cancelling during the Free Look Period?

If you submit a cancellation request within the 30-day Free Look Period, you will receive a refund of the Total Premium Paid with NO deductions.

4. How long does it take to get my refund after cancellation?

Your refund will be processed and credited within 7 days from the date ACKO receives your cancellation request.

5. How will the refund amount be paid?

The refund amount will be credited directly back to your original mode of payment used at the time of purchase, wherever operationally feasible.

6. What happens if the refund is delayed beyond 7 days?

In the rare event that the refund takes longer than 7 days from the date of your request receipt, ACKO will pay penal interest at the Bank Rate + 2% per annum for the period of delay. This interest will be credited to your account automatically (suo-moto) without requiring you to raise a separate request.