| Regulatory Framework > Regulation
of Insurers |
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Policyholders are given a cooling-off period to review the terms and conditions of their long term insurance policies. The cooling-off period is 21 days after the delivery of the policy (or issue of a notice informing the policyholder of the availability of the policy and the expiry date of the cooling-off period) to the policyholder or the policyholder's representative, whichever is the earlier.
The policyholder has the right to cancel the policy and obtain a full refund of the insurance premium (less a market value adjustment where applicable) if he changes his mind within that period.
Note: The above cooling-off period is a self-regulatory measure of the insurance industry promulgated by the Hong Kong Federation of Insurers (¡§HKFI¡¨). Where there is any discrepancy between the version of cooling-off period published on this website and that of the HKFI, the version of the HKFI should prevail.
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