Wednesday, February 3, 2021

Return

Generally, the insurance premiums once paid cannot be refunded. However, refunds can be made in the following cases.

Adopt the agreement in the policy

The insured can pay the full premium while affecting the insurance, but in the event of certain events, they can agree to refund them in whole or in part. For example, special packaging can reduce risks.

For Reasons of Equity

• No risk. For example, if the subject of insurance or part of it has never been jeopardized, a refundable insurance will be insured on a regular basis. If no death occurs during the insurance period, the premium will be returned to the insured.

 

• Undeclared outstanding policy balance. If there is no further interest in the policy, you can cancel the policy and refund the premium in exchange for the allowed short-term interest.

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