How do I cancel my ManipalCigna Health Insurance Policy?
In any case if the insured / policyholder would like to cancel his ManipalCigna Health Insurance Policy, then the below given procedure needs to be followed:-
Freelook 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. The insured is Entitled for a refund of premium subject to
- A deduction of the expenses incurred On the medical examination, Stamp duty Charges, if the risk has not commenced
- A deduction of the stamp duty charges, medical examination charges & proportionate risk premium for period on cover, of the Risk has commenced
- A deduction of such proportionate risk premium commensuration with the risk covered during such period, where only a part of risk has commenced.
- Free look period shall not be applicable For renewal policies.
Health insurance
Cancellation/ termination:
- In case the customer is not satisfied with the policy terms & conditions or services, they have the option to cancel the policy by giving a written notice to the insurance company.
- Premium shall be refunded as per the table below if no claim has been registered/ made under the policy and full premium has been received
| 1St year | 2Nd year | ||
| Policy in force upto | Premium refund % | Policy inforceUpto | Premium refund % |
| 1 month | 75% | 1 month | 87.50% |
| 3 months | 50% | 3 months | 75% |
| 6 months | 25% | 6 months | 62.5% |
| More than 6 months | Nil | 12 months | 50% |
| 15 months | 37.50% | ||
| 18 months | 25% | ||
| Above 18 months | Nil | ||
The insurance company has the rights to cancel the policy giving a 15days notice in writing by registered post acknowledgment due/ record delivery to the customers last known address on grounds of misrepresentation, fraud, non-disclosure by the customer without any refund of premium.
An individual policy with single cover shall be automatically terminated in case the insured dies or is no longer an indian citizen. In case of individual policy with multiple covers/policyholders, the policy will continue for other insured till the expiry of the policy. The policy will be renewed by another adult insured person.
Also, where the policy is issued for the two years and a claim for critical illness is payable in the first year, then the cover will cease for the 2Nd year and any premium collected shall be refunded after deduction of applicable discounts and commissions if any.
Personal accident plans:
Request for cancellation should be given to the insurance company with 15 days written Notice. The insurance company shall refund the premium which is unexpired term as per the table given below.
| 1St year | 2Nd year | 3Rd year | |||
| Policy in force upto | Premium refund % | Policy inforce upto | Premium refund % | Policy inforce upto | Premium refund % |
| 1 month | 75% | 1 month | 85% | 1 month | 90% |
| 3 months | 50% | 3 months | 75% | 3 months | 85% |
| 6 months | 25% | 6 months | 60% | 6 months | 75% |
| More than 6 months | Nil | 12 months | 50% | 12 months | 60% |
| 15 months | 30% | 15 months | 50% | ||
| 18 months | 20% | 18 months | 35% | ||
| Above 18 months | Nil | 24 months | 30% | ||
| 30 months | 25% | ||||
| Above 30 months | Nil | ||||
The insurance company has the rights to cancel the policy giving a 15days notice in writing by registered post acknowledgment due/ record delivery to the customer's last known address on grounds of misrepresentation, fraud, non-disclosure by the customer without any refund of premium.
Critical illness plans:
Request for cancellation should be given to the insurance company with 15days written Notice. The insurance company shall refund the premium which is unexpired term as per the table given below.
| 1St year | 2Nd year | 3Rd year | |||
| Policy in force upto | Premium refund % | Policy inforce upto | Premium refund % | Policy inforce upto | Premium refund % |
| 1 month | 75% | 1 month | 85% | 1 month | 90% |
| 3 months | 50% | 3 months | 75% | 3 months | 85% |
| 6 months | 25% | 6 months | 60% | 6 months | 75% |
| More than 6 months | Nil | 12 months | 50% | 12 months | 60% |
| 15 months | 30% | 15 months | 50% | ||
| 18 months | 20% | 18 months | 35% | ||
| Above 18 months | Nil | 24 months | 30% | ||
| 30 months | 25% | ||||
| Above 30 months | Nil | ||||
The insurance company has the rights to cancel the policy giving a 15 days notice in writing by registered post acknowledgment due/ record delivery to the customer's last known address on grounds of misrepresentation, fraud, non-disclosure by the customer without any refund of premium.
Also read - Whom do I need to contact in case of grievance against ManipalCigna Health Insurance?
