Cancellation - Magma Insurance
Policy Cancellation
To cancel your policy, please reach out to us by:
- Email: Customercare@magmainsurance.com
- For Senior Citizens: Namaskar@magmainsurance.com
- Toll-Free: 1800 266 3202
Kindly provide your policy number, reason for cancellation, and any required supporting documents to help us process your request efficiently.
Free Look Cancellation (only applicable for Health Policies):
If you are not satisfied with policy terms or conditions, you have the option to cancel the policy within 30 days period. Refund of premium paid, if any, shall be made in accordance with the applicable policy terms and regulatory requirements.
Before Policy Commencement:
If a policy is cancelled before its commencement date, refund of premium paid, if any, shall be made as applicable under the policy terms and conditions.
After Policy Commencement:
If a policy is cancelled after commencement, refund of premium paid, if any, shall be made as applicable under the policy terms and conditions.
Online Purchases:
Refunds will be processed to the original payment mode within 7 days from the date of receipt of request for cancellation.
Offline Purchases:
For offline policies, please share your bank account details for the refund. The amount will be credited within 7 days from the date of receipt of request for cancellation.
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