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Yes, you can cancel Canara HSBC Life Insurance. It will depend on the type of policy holding. You can either surrender your policy or stop paying the premiums at any time, and no need to pay a cancellation fee to the insurance company.
To revive lapsed Canara HSBC life insurance policy, the policyholder needs to make an application for revival to the company. The company may prescribe submitting a standard revival form. The insured fails to pay the premium within the grace period and the coverage of the policy lapses. The inclusion of revival of policy is a must to have as it provides an option to the insured person to renew the policy and continue with the coverage of the plan. The renewal of the lapsed policy can be done anytime within 5 years from the date of unpaid premium. First, take advice from insurance advisors on our website or if need help call: 1800-123-4003.
Canara HSBC Life Insurance Policy can be closed by the policyholder at any point of time after the policy start date by writing to the insurance company and filling the cancellation form. You can close your Canara HSBC life insurance policy without losing money while the policy is in a free look period. If the policy is to be closed within the free look period, it can be done without any premium deduction by the insurance company. If the policy is to be closed after the free look period, a pro-rata premium would be charged by the insurance company from the customer.
Canara HSBC life insurance plan can be cancelled by the policyholder at any point of time after the policy start date by writing to the insurance company and filling the cancellation form. If the policy is to be cancelled within the free look period, it can be done without any premium deduction by the insurance company. If the policy is to be cancelled after the free look period, a pro-rata premium would be charged by the insurance company from the customer.
You can Surrender Canara HSBC Life insurance policy online on our portal. Surrender value is the amount of premium refunded to the policyholder after a few years of premium payment. The surrender value is paid to the policyholder at the time of surrender. Surrender is only allowed for single premium cases where the premium is paid lump sum to the insurance company. Surrender benefits will be paid immediately on the request, surrender is allowed from the first policy year. The surrender value is paid as per the plan option opted by the policyholder.
Canara HSBC life insurance plan can be canceled by the policyholder at any point of time after the policy start date by writing to the insurance company and filling the cancellation form. If the policy is to be canceled within the free look period, it can be done without any premium deduction by the insurance company. If the policy is to be canceled after the free look period, a pro-rata premium would be charged by the insurance company from the customer.
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