How To Cancel SBI General Insurance Policy

Introduction

SBI General Insurance is one of the leading providers of general insurance in India. It offers a wide range of insurance products, including motor, health, travel and home insurance. The company also offers various benefits like cashless cover, 24X7 customer service and more. But if you are no longer in need of the insurance policy or want to switch to another insurer, you may have to cancel the existing policy.

Steps To Cancel SBI General Insurance Policy

The process to cancel SBI General Insurance Policy is easy and straightforward. All you need to do is follow the steps mentioned below:

1. Request A Cancellation Letter

The first step is to request a cancellation letter. You can do this by calling the customer service helpline or sending an email to the customer support team. In the request, you must mention the policy number, your name and the reason for cancellation. Once the request is approved, you will receive the cancellation letter with all the details.

2. Fill The Cancellation Form

Once you receive the cancellation letter, you will need to fill the cancellation form. This form should be filled with accurate details and signed by you. You can either fill the form online or download it from the website and then fill it. Once the form is filled and signed, you will need to send it to the insurer.

3. Pay The Cancellation Fee

The next step is to pay the cancellation fee. In most cases, the cancellation fee is applicable only if you are cancelling the policy before the end of the policy term. The cancellation fee is usually a percentage of the policy premium. The exact amount of the fee will depend on the insurer and the type of policy.

4. Receive The Refund

Once the cancellation request is approved, you will receive the refund for the policy. The refund amount will depend on the insurer and the type of policy. In most cases, the refund will be provided within 15-20 working days.

Conclusion

Cancelling an SBI General Insurance Policy is easy and straightforward. All you need to do is request a cancellation letter, fill the cancellation form, pay the cancellation fee and then receive the refund. In most cases, the refund is provided within 15-20 working days. So, if you no longer need the insurance policy or want to switch to another insurer, follow the steps mentioned above to cancel the policy.