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.
If you are not satisfied with the results of your review, you may appeal to the Commissioner of Insurance. Insurance companies must make payments it owes in a âtimelyâ manner â generally on or before the date specified in the policy or, if no date is specified, within 60 days after the policy expires. It must pay a 12% per annum simple interest penalty on any late payments.