Cancellation may be effected either at the request of the Policyholder or at the Company’s discretion in accordance with the Policy terms.

Upon cancellation, the Company will refund the unearned premium to the original payment source by electronic transfer within seven (7) working days of receiving the Policyholder’s cancellation request or issuing the cancellation notice by the Company.

All refunds shall be net of:

(a) proportionate risk premium for the period on cover;

(b) applicable taxes, stamp duty and statutory charges; and

(c) an administration fee, if any incurred by the Company.

The provisions governing cancellation and refund under the IRDAI Regulations and the relevant Policy wording shall apply mutatis mutandis to all policies issued through the Company’s Insurance Portal.