Check my policyHome / Surrender guides / Free-look cancellation
Most new life policies in Singapore come with a free-look period, usually 14 days, during which you can cancel and get your premiums back, less some costs. It is not a surrender: it treats the policy as if it had never been taken up.
Sources last checked 15 October 2026
Great Eastern's published process, as an example. Other insurers are similar; check yours.
Count from the date in your policy. Don't wait for the last day.
Great Eastern uses its Freelook / Not taken up form, CS146.
Through your representative, online, at the counter or by post, as your insurer allows.
Great Eastern refunds after about 5 working days, by PayNow unless you choose otherwise, and sends a cancellation confirmation.
The refund is your premiums less costs the insurer has already met. Great Eastern says medical costs, such as examinations, are borne by you, and that investment-linked policies carry a market adjustment, with any loss falling on you.
Before you cancel, make sure you won't be left without cover you need, and that any replacement policy is in force first. Replacing your cover
Two different things, with different results.
| Free-look cancellation | Surrender | |
|---|---|---|
| When | Only within the free-look period | Any time after, while the policy has a cash value |
| What you get | Premiums back, less some costs | The net surrender value, often below premiums paid early on |
| The policy | Treated as never taken up | Ends |
| Where the rules are | Your policy's free-look terms | How to surrender |
For most life policies in Singapore, yes. Your policy document states the exact period and when it starts.
Great Eastern says it can't. Assume the same for your insurer unless it tells you otherwise in writing.
Usually your premiums, less costs such as medical examinations. Investment-linked plans may return more or less, depending on unit prices.
You can still surrender, make the policy paid-up, or in some cases sell it. Compare your choices
Great Eastern: Cancel policy during freelook period (checked 15 October 2026)
If we would buy it, our offer sits beside your net surrender value. No NRIC, no obligation.