Refund & Cancellation Policy

  • Home
  • /
  • Refund Policy

InsurDirect Protection Guarantee

Policy Cancellation & Premium Refunds

At InsurDirect, we strive to provide complete satisfaction and transparency across all our insurance products and services. This Refund Policy outlines the conditions, timelines, and procedures regarding premium refunds and policy cancellations for plans managed through insurdirect.site.

For immediate assistance regarding cancellations or refund status, please contact our billing support team at support@insurdirect.site.

1. Free-Look Period Cancellation

InsurDirect offers a standard statutory free-look period for newly issued insurance policies, allowing you time to review your coverage details:

  • 14-Day Free-Look Period: Policyholders may request full cancellation within 14 days of policy issuance or document delivery.
  • Full Premium Refund: If no claims have been filed during this window, you will receive a 100% refund of the paid premium, minus nominal administrative or statutory charges (such as stamp duties).

2. Mid-Term Policy Cancellations

If you choose to cancel your policy after the 14-day free-look period, the following InsurDirect refund rules apply:

  • Pro-Rata / Short-Period Refund: Premium refunds for mid-term cancellations will be calculated on a pro-rata basis or according to standard short-period rate tables specified in your policy terms.
  • Active Claim Restriction: No refunds will be granted on any policy where a claim has already been registered, paid, or is currently pending investigation during the active policy term.
  • Policy Transfer: Unexpired premium balances can either be transferred to a new policy or credited toward another plan on insurdirect.site upon submission of necessary documents.

3. Duplicate or Excess Payments

In the event of accidental duplicate payments, technical payment gateway errors, or excess premium payments during online application processing on insurdirect.site, the overpaid amount will automatically be credited back to your original payment method within 5 to 7 business days following verification.

4. Processing Timeline & Method

Approved refunds are processed through secure payment channels under the following guidelines:

Payment Source: Refunds are strictly issued back to the original source account (Credit Card, Debit Card, or Direct Bank Transfer) used during purchase on insurdirect.site.

Turnaround Time: Once a refund request is approved, funds will reflect in your account within 7 to 10 working days, depending on your financial institution.

Written Request Requirement: All cancellation requests must be submitted in writing to support@insurdirect.site accompanied by your Policy ID or Application Reference Number.