by Guest » Tue Sep 14, 2010 07:02 pm
I have an insurance policy from Aviva, taken in the month of Feb 10, as of now i don't want to continue with my policy and want my money back , with or without deductions, AVIVA has declined my request, pls guide what remedy do i have?
Posted: Tue Sep 14, 2010 09:34 pm Post Subject:
Aviva is a life insurance company... you posted this in the auto insurance forum. I will move it to the proper forum.
In terms of canceling the coverage, we can't really answer the question until we know (1) what kind of policy it is, (2) if this is a worksite plan in which you are having payroll deductions taken to pay the premium, and (3) whether you enrolled in the plan during an open-enrollment period.
If you could answer these questions, we can help.
InsTeacher 8)
Posted: Wed Sep 15, 2010 02:31 am Post Subject:
Also, if it's not a worksite or group plan how did you pay for it, annually, monthly, etc? If it's an individual policy with a monthly premium, call up the bank and tell them to not allow the auto draft, that'll fix your problem real quick.
Posted: Wed Sep 15, 2010 11:34 am Post Subject:
I guess there's a 10-day freelook period with many health policies. It seems the OP has gone beyond this period. Now, it could be real difficult to get a refund. The OP should've gone through the papers within this period and returned it if it's not acceptable.
Posted: Wed Sep 15, 2010 08:11 pm Post Subject:
now i don't want to continue with my policy and want my money back , with or without deductions
Insurance is not the same as Burger King. You can't have it YOUR way. You get what the contract entitles you to get. After the FREE LOOK PERIOD, most likely 10 days, you are not entitled to anything other than the cash surrender value.
Until your policy has been in effect for at least 2 or 3 years, it will have little or no cash value. To cancel now, just 6 months or so after policy issue, is your privilege, just write the letter telling Aviva that. But you will not receive any money in return, other than perhaps any unearned premium if you paid for the entire first year in advance.
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