Cancellation of Policy Application even after providing documentations
20-Jul-2023 (In Documentation Law)
Hi, Is it legal to cancel a policy(before issue) even after submission of all required document and post signing required papers for policy.Policy is from ICICI Prudential - Thanks.
Yes, it is upto the insurance provider either to approve policy or to decline the same. In case the insurance company founds you incompetent to fullfill their terms and conditions, whatever those are, the insurance company can decline your policy and will return your first installment amount with a notice disclosing the reasons of their inacceptance .
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