Tag Archives: Zurich gap insurance cancellation issues
Many people today are of the opinion that GAP insurance refund policy has many issues when you opt for cancellation. However, there are a few of them, but if you stay aware right from the start and acknowledge the terms and conditions thoroughly before signing on the dotted line, then you can stay away from these Zurich GAP insurance cancellation issues. Let us have an in-depth look at what actually you ought to do for Zurich GAP insurance cancellation: Today, every GAP insurance refund policy provider aims to provide 100% reliable services to its customers.
However, we humans have a tendency to have a different mindset and change of mind every now and then, which is quite normal.
Yes, most of the Zurich GAP insurance policies are completely cancellable. For instance, if you cancel a specific Zurich GAP insurance policy within one month of your purchase, then the provider might grant you complete refund of your policy premiums. However, if you decide to cancel the policy after the 30 days period, then you might apply to cancel the policy with a proportional GAP refund of any of the unused premium. Here, you ought to check and go through the terms and conditions of your Zurich GAP insurance policy contract.
There are certain exceptions wherein you cannot avail a full refund within one-month period. However, you can contact your legal or financial advisor if any for finding out ways to avail full refund in such a case. Your legal advisor is the best person to help you out here.
The most imperative thing to remember while canceling your Zurich GAP insurance policy is inform the provider in writing about your policy cancellation request. Some GAP insurance providers even accept the cancellation request via emails, so check with your GAP insurance firm whether it allows the facility or not. The customer support team of the company will then contact you to check your receipt for the full refund within the stated time. Many people while cancelling the Zurich GAP insurance policy come across the below mentioned question: What if your mind changes on the degree of cover? What if the price of policy reduces or increases for the alteration? In such cases, the GAP insurance provider might require you to provide a written request mentioning your wish to alter the policy and the company will then process the refund accordingly.
Last but not the least, the procedures and issues of cancellation of your Zurich GAP insurance policy differ from provider to the other and thus, it is advisable to first check with your provider and then proceed for the cancellation.