Can I cancel my policy?
Yes. You can cancel your policy as long as no claims have been paid during the current policy period.
If a policy is cancelled before the end of the 7th day from the policy start date, we will refund in full. For example, for a plan bought on June-1, you can get the full amount back if it is cancelled before the end of June-7.
For cancellations after the 7th day from policy start date:
If you have chosen the annual billing option, we will refund the unused premium net of a 10% cancellation fee. Unused premium is calculated on a pro-rata monthly basis. A partial month is considered a full month in determining your refund amount.
For example, if you paid HKD 1,200 at the beginning on January-1, and you chose to cancel this policy on February-1, the unused premium is equal to 10 months of premium counting from March, which is HKD 1,000. Cancellation charge is 10% of the annual premium which is HKD 120. You will then get a cancellation refund of HKD 1,000 - HKD 120 = HKD 880.
If you have chosen the monthly billing option, there will be no premium refund or cancellation charges.