At Signior PureBima Insurance Brokers Private Limited, we strive to provide transparent and fair policies regarding cancellation and refunds. Please review the following terms regarding cancellation of insurance policies and refund procedures:
1. Cancellation of Policies
Voluntary Cancellation: You may request to cancel your insurance policy within time limits provided as per Insurance Act and circulars issued by Insurance Regulatory and Development Authority of India (“IRDAI”). To initiate the cancellation process, please contact our customer service department or your insurance agent.
Involuntary Cancellation: We reserve the right to cancel your policy in accordance with the terms and conditions outlined in your policy document. Reasons for involuntary cancellation may include non-payment of premiums, misrepresentation of information, or other valid reasons as specified in your policy.
Please note that, the premium paid for an insurance product will be refunded through direct credit or cheque as per the policy of the respective Insurance Company that you have chosen to buy the product from.
2. Refund Policy
Premium Refunds: If you cancel your policy within the specified cancellation period (also known as the "free look period"), which is typically within 10 to 30 days from the policy issuance date, you are entitled to a full refund of any premiums paid, provided no claims have been made under the policy during that period.
Pro-rated Refunds: If you cancel your policy after the cancellation period has ended, we may provide a pro-rated refund of the unearned portion of the premium. The pro-rated refund is calculated based on the number of days the policy was active and the terms outlined in your policy document.
3. Refund Process
Upon receipt of your cancellation request, we will process your refund in a timely manner. Refunds will be issued using the original method of payment, unless otherwise specified. Please allow a reasonable period for the refund to be processed and reflected in your account.
4. Exceptions
5. Contact Us
If you have any questions about our Cancellation and Refund Policy, or if you wish to initiate a cancellation request, please contact our customer service department at:
Signior PureBima Insurance Brokers Private Limited
717, Tower – B, Advant IT Park, Sector – 142, Noida – 201301
Email: operations@PureBima.com
Contact: +91 70 42 12 7003
Thank you for choosing Signior PureBima Insurance Brokers Private Limited. We value your trust and look forward to serving you.
This Cancellation and Refund Policy is effective as of July 10, 2024.