In any case if the insured/ policyholder would like to cancel his Chola MS General Insurance Policy, then the below given procedure needs to be followed:-

Free look period:- The customer has a period of 15 days from the date of receipt of the new policy document to review the terms and condition of this policy. If the insured has any objections to any of the terms and conditions, he has the option to cancel the policy stating the reason for cancellation.

Accidental insurance:

Cancellation / termination:

This policy may be cancelled by the insurer on account of misrepresentation, fraud, and non-disclosure of material facts or non-cooperation of the insured by giving 15 days written notice delivered to, or mailed to the insured persons' last address as shown in the records.

The policy shall be void and all premium paid hereon shall be forfeited to the company.

Upon cancellation of the policy by the insurance company for any other reasons (other than the above), the insured person shall be entitled to refund of pro-rata premium for the unexpired portion of the policy on the date of cancellation.

The insured person may also cancel the policy at any time in which event, the insurance company shall be entitled to retain premium at short period scale for the expired portion on the date of cancellation.

Any excess premium available with insurance company after adjustment at short period scale as provided herein below shall be refunded to the insured except for those insured person(s) for whom a claim has been paid or is payable in the current policy.

Health insurance/ hospital cash:

• This policy may be cancelled by the insurer on account of misrepresentation, fraud, and non-disclosure of material facts or non cooperation of the insured by giving 15 days written notice delivered to, or mailed to the insured persons' last address as shown in the records.
• On such cancellation by insurer, the insured person shall be entitled to refund of pro-rata premium for the unexpired portion of the policy on the date of cancellation.
• The insured person may also cancel the policy at any time in which event, he/she shall be entitled to premium at short period scale forthe unexpired portion on the date of cancellation.
• Any excess premium available with the insurer after adjustment at short period scale as provided herein below shall be refunded to the insured except for those insured person(s) for whom a claim has been paid or is payable in the current policy

Upon the cancellation or non-renewal of this policy, all id cards shall immediately be returned to the insurer at the insured person's expense. The proposer and all insured persons agree to hold and keep the insurer harmless against any and all costs, expenses, liabilities and claims arising in respect of the actual or alleged use or misuse of such id cards prior to their return

Critical illness policy:

This policy may be cancelled by the insurer on account of misrepresentation, fraud, and non-disclosure of material facts or non-cooperation of the insured by giving 15 days written notice delivered to, or mailed to the insured persons' last address as shown in the records. On such cancellation by the insurer, the insured person shall be entitled to refund of pro-rata premium for the unexpired portion of the policy on the date of cancellation.

The insured personmay also cancelthe policy at any time in which event, the company shall be entitled to retain premium at short period scale for the expired portion on the date of cancellation. Any excess premium available with the insurer, after adjustment at short period scale, as provided herein below shall be refunded to the insured except for those insured person(s) for whom a claim has been paid or is payable in the current policy.