Star Health Policy Cancellation
- Star Health policy cancellation
- How to cancel?
- Processes of cancellation
Worried how cancelling a Star Health Insurance policy impacts you? Let’s talk more about it here.
Having a health insurance policy ensures your medical and financial safety in times of emergency. Surrounded by a bustling city lifestyle and increasing health complications, health insurance is the need of this hour. The positive effect of a health policy comes into play when one has to go under a healthcare treatment, life-saving support, medical emergency, or hospitalisation.
However, it’s not a good step for your financial and medical safety to cancel health insurance. The policyholder is free to cancel their policy anytime they want, all thanks to the consumer rights in India. This article discusses cancelling your Star health insurance policy, when should you cancel it, and how will it create an impact on your finances.
Star Health Insurance Company allows its policyholders to cancel their policy according to the subjugates mentioned in their policy’s terms and conditions. However, the policyholder needs to check their health policy’s schedule/wording before buying it. Beyond that, you can check below about the types of cancellations in health insurance and their impact on returns based on your policy:
| Type of cancellation | Impact on the policy’s returns |
|---|---|
| Free-look period cancellation | You can cancel your health insurance in the specified free-look period (commonly 15 days, varies from policy to policy) to get approx. 100% refund of the overall paid premiums (excluding any charges the insurer has paid towards a pre-policy health check-up). |
| Short-rata cancellation | If you initiate your health policy’s cancellation after the free-look period, there will be a deduction in your premium refunds, specifications of cancelling it as; Within 1 month- 75% of the premium Within 3 months- 50% Within 6 months- 25% Exceeding 6 months- Nil/No refunds applicable |
| Flat cancellation | This type of health insurance cancellation is done even before it comes into effect to provide medical coverage to the policyholder. A full refund is applicable for this cancellation as you’re not yet covered under the policy. |
| Pro-rata cancellation | Let’s understand this with an example - Suppose you’ve bought health insurance for the policy tenure of 1 year but you decided to cancel the same within 6 months of the purchase. Then, the insurance company is only liable to give you a refund of 50% of the premiums you’ve paid, the rest of the unearned premiums (out of which you’ve not raised any claim) are not refundable. |
Usually, three types of deductions are applicable on the overall refund of health insurance policy’s premiums that you pay to the insurer:
You can proceed with cancelling your Star Health insurance policy by reaching out to the customer care executives of the company or just sending a letter to their registered official address. The contact details of the company and other important contact addresses are mentioned below:
| Contact Details | |
| Toll-free number | 1800 425 2255 / 1800 102 4477 |
| Contact (for corporate customers) | 044 43664666 |
| Virtual Assistant | ’Twinkle’ (automated chatbot) |
| Email ID | support@starhealth.in |
| Registered Office | No 1, New Tank Street, Valluvarkottam High Road, Nungambakkam, Chennai 600034 |
No insurance company encourages you to cancel your health insurance policy as it disconnects you from the convenient medical support that you may require during a future emergency. However, if someone still wants to go forward with Star Health policy cancellation, they are free to do so by following the proper steps.
If you need any further assistance regarding your Star health insurance cancellation refund, reach out to the customer care number of PolicyX.com at 1800 4200 269 or send an email to us at helpdesk@policyx.com.
Star Health Insurance Network Hospitals are present in 31 states nationwide. With a wide network of hospitals, Star Health Insurance ensures that you are medically secured, irrespective of the city you reside in.
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Know More About Health Insurance Companies
No, Star Health Insurance for Critical Illness doesn’t offer coverage for any expenses incurred on Lasik or Refractive Error Correction.Yes, you can get a full refund of your premiums if you cancel your health policy during the free-look period, i.e., 15 days. However, the insurer may deduct any charges paid towards a pre-policy health check-up.
You must give a notice of policy cancellation in writing, 15 days before initiating the cancellation process.
The stamp duty, prorated premium risks, and the medical expenses on pre-policy medical check-ups are deducted from the overall refund.
Cancelling your health policy is not considered beneficial as all the healthcare benefits will discontinue after cancelling it.
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Lives In: Delhi, NCR Expertise: Health & Term Insurance Simran has an experience of 4 years in content writing. She transitioned from hospitality and digital marketing to the insurance industry after her emerging interest in how vast insurance is. With her ability to write complex insurance concepts in a simple, relatable manner, she keeps her audience hooked and solves their doubts smoothly.
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