Refund Policy

At ManiCoreInsure, we are committed to maintaining fair, transparent, and customer-friendly cancellation and refund practices. This policy outlines the conditions, timelines, and procedures applicable for policy cancellations and refund processing.

1. Free Look Period Cancellation

Policyholders may cancel their insurance policy within the applicable free look period (generally 15 to 30 days from receipt of policy documents).

Refunds during the free look period may be processed after deducting:

• Risk premium for the covered period
• Medical examination expenses (if applicable)
• Applicable stamp duty charges

2. Mid-Term Cancellation (After Free Look Period)

Policyholders may request cancellation during the active policy term. Refund eligibility and amount will depend on the unused coverage period and applicable insurer guidelines.

• Refund may be calculated on a pro-rata basis
• Short-term policies may have separate cancellation conditions
• Administrative charges may apply

3. Motor Insurance Cancellation Rules

Motor insurance cancellation refunds are generally subject to claim status and insurer-specific cancellation rules.

• No refund may be applicable if a claim has already been filed
• Refund amount depends on policy utilization period
• Cancellation charges may be deducted by the insurer

4. Health & Life Insurance Cancellation

Refunds for health and life insurance policies are governed by underwriting rules, policy type, and insurer conditions.

• Health insurance refunds depend on policy usage and claim history
• Life insurance may provide surrender or reduced paid-up value
• Applicable mortality and administrative charges may be deducted

5. Refund Deduction Factors

Refund amounts may be reduced based on the following factors:

• Risk premium for utilized coverage period
• Administrative and processing charges
• Applicable taxes and stamp duty
• Medical examination expenses
• Commission or service charges (where applicable)

6. Non-Refundable Scenarios

Refunds may not be applicable under the following situations:

• Policy term has been substantially or fully utilized
• Insurance claim has already been settled
• Policy terms specifically mention non-refundable premium
• Violation of policy conditions or fraudulent activity

7. Refund Processing Timeline

Approved refunds are generally processed within 7 to 30 working days depending on insurer and banking procedures.

• Refunds are credited to the original payment source
• Processing timelines may vary based on verification requirements

8. Required Documents For Cancellation

Customers may be required to provide supporting documents for cancellation and refund requests.

• Copy of policy document
• Signed cancellation request form
• Identity proof (if required)
• Bank account details for refund processing

9. Online Cancellation Options

Customers may submit cancellation requests through available digital channels.

• Customer portal
• Mobile application
• Email support request
• Official customer support helpline

10. Contact Information

For refund or cancellation-related assistance, customers may contact our support team through the details below.