Table of Contents
Cancellation procedure #
Cancellation of the policy can occur in the following ways:
- Due to non payment of premium(unpaid d/o or annual premium) -Some insurer skip one month’s cover. Where premium goes unpaid twice in to consecutive months then cancellation is retroactive to the last unpaid date. Cancellation is immediate if payment is stopped by the insured. Also cancellation is immediately if fisrt debit is unmet (no grace period is given).
- Due to the clients request – no need for 30 days notice.
- Due to insurer’s request – 30 day notice period required (due to adverse claims/survey etc)