Can you get a refund on an insurance policy?
Your insurance company may issue a refund if your policy is canceled and you've paid your premium in advance. Receiving an insurance refund will largely depend on why you're canceling the policy and how much of the premium you paid in advance.
Can you cancel insurance at any time and get refund?
If you changed your mind during free look period, you can cancel your life insurance policy without any penalty. In fact, you can even get a refund, minus any administration fee.
Is insurance policy refundable?
Insurance companies may make refunds to policyholders under certain conditions. Some insurance companies may use the refunds to offset premiums payable.
Can you cancel an insurance policy?
You must contact your insurer to cancel the policy. Some policies are automatically renewed each year. It's important to check when your policy is due for renewal so you can make sure that it is not renewed when you don't want it to be.