1. Free-look period
Every insurance policy you buy through us comes with a regulator-mandated free-look window during which you can cancel without penalty:
- Health, motor, travel: 15 days from the date of policy receipt (30 days for distance-marketing channels).
- Term life and investment plans: 30 days from the date of policy receipt.
Within this window we refund the full premium minus stamp duty, proportional risk premium for the days the policy was on cover, and any medical examination expenses incurred by the insurer.
2. After the free-look period
For most policies, refunds after the free-look window are governed by the insurer's own surrender or short-period scale rules. The amount returned depends on the policy type:
- Motor / general: short-period premium retained by insurer; balance refunded.
- Health: proportional refund minus admin charges if no claim has been made.
- Term life: typically no surrender value; refund only during free-look.
- ULIPs / endowment: surrender value as per the policy schedule.
3. How to cancel
- Email us at contact@tecloudex.com with your policy number and reason for cancellation.
- We forward the request to the insurer the same business day.
- Insurer issues an endorsement / cancellation letter and processes the refund.
- Refund credited to the original payment method within 7–14 business days of cancellation acceptance.
4. Service-fee refunds
We do not charge customers any fee for the comparison or purchase service, so there is no separate service-fee refund. The premium you pay is the same as buying directly from the insurer.
5. Failed transactions
If a payment is debited from your account but the policy is not issued, the amount is auto-reversed by the payment gateway within 5–7 business days. If you don't see the reversal by then, write to us with the transaction reference and we'll escalate immediately.
6. Contact
For any refund or cancellation query, reach our customer desk at +91-9150052027 or contact@tecloudex.com.