Travel Insurance Policy Cancellation and Refund Rules Workflow
Cancellation of Travel Insurance Policy is allowed in case of refundable reasons. Refund will be initiated within 7 working days after receiving valid cancellation request.
Travel Insurance Policy Cancellation and Refund Rules
Step 1: Validate Cancellation Request
Step 2: Check Policy Conditions
Step 3: Calculate Refund Amount
Step 4: Update Policy Status
Step 5: Send Refund Confirmation Email
Step 6: Record Refund Transaction
Step 7: Create Follow-up Task
Step 8: Review and Verify Refund
Step 9: Update Policyholder Information
Step 10: Close Refund Request
Travel Insurance Policy Cancellation and Refund Rules
Type: Text
Business Workflow Step: Travel Insurance Policy Cancellation and Refund Rules When a customer wishes to cancel their travel insurance policy or requests a refund, the following steps are taken: 1. Customer submits cancellation or refund request via phone, email, or in-person at an office location. 2. The system verifies the customer's policy details and checks for any outstanding premiums or fees. 3. If eligible for cancellation or refund, the customer is informed of the applicable terms and conditions, including any potential deductions for processing fees or claims already paid out. 4. Customer reviews and agrees to the cancellation or refund terms. 5. The system updates the customer's policy status and initiates the refund process, if applicable. 6. Refund is processed within 3-5 business days and credited back to the original payment method.
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