Refund Policy | NLG - National Life and General Insurance Company SAOG

Refund Policy

Cancellation and refund Policy:

·        Free look period:-

Where no claim has been initiated in terms of this Policy or where no right has accrued to the Life Assured to initiate a claim or receive any benefit in terms of the Policy, the Life Assured may, within thirty (30) days from the Policy Issuance Date, cancel the Policy by notifying the Company in writing and duly acknowledged by the Company. Pursuant to it, the Policy will be cancelled, and the Company will pay the Total Premium paid by the customer after deducting any expenses borne by the Company for medical examination of the Life Assured. All the rights under the Policy shall stand terminated immediately on the cancellation of the Policy under this Clause. No claims shall be entertained after initiation of refund during the free look period, even if event eligible for claim fell before the initiation of free look refund.

·        Post free look period:-

No refunds shall be applicable after the free look period. There is no maturity value/ cash value payable on cancellation of the policy after the free look period


Refunds will be done only through the Original Mode of Payment, refunds will be made back to the payment solution used initially by the customer. Please allow for up to 45days for the refund transfer to be completed


Product specific cancellation and refund details are mentioned in the Policy schedule Report