How To Cancel Manipal Cigna Health Insurance Policy?

ManipalCigna Health Insurance Company Limited is a joint venture between the U.S.-based global health services leader, Cigna Corporation, and Indian conglomerate, Manipal Group. Cigna Corporation, a Fortune 500 company is the first US Health Insurance player to set foot in the country. Cigna’s partnership with the Manipal Group will bring in an innovative suite of health insurance products along with an enhanced customer service experience to the Indian market.

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 procedure needs to be followed:

Free Look Period: The customer has a period of 15 days from the date of receipt of the new health policy document to review the terms and conditions 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 and 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. The insurance company has the right 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.

Conclusion

Make sure you read all policies and check for any changes made by the insurance company during the renewal. The timely renewal of your health insurance will not only give you and your loved one peace of mind but will also eliminate the uncertainty.

Also Read: Is Paralysis Covered In Your Health Insurance Policy