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If there is a policy that is three months old and you cancel it will there be any money back?
Wiki User
∙ 15y ago
Depends on the mode of premium...that is, did you pay an annual (yearly) premium, a semi-annual, quarterly or monthly premium? Whichever mode you used, the insurance company will (should) refund the "unearned" amount you paid. For instance, if you paid an annual premium (12 months), and you cancel after just three months of coverage, then you should receive a refund equal to nine (9) months woth of premium, etc.
Wiki User
∙ 15y ago
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