Mostly a south Indian festival, Vishu is the dawn of a new astronomical year, and the day marks the first day of the Malayalam month of Medam that corresponds with April in the Gregorian calendar.
They will issue a refund and depending on the method of refund, this should be completed within 28 days. You will be asked to return all documentation regarding the gap insurance you have cancelled and the cover will cease at this point.
Then you should recieve your refund in less than 2 weeks.... If you filed electronically and have it set up for direct deposit, then you should recieve your refund in less than 2 weeks. I think I read 11 days on average, but that is once it is accepted.