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Health insurance cancellation mid-term.

  • 12-05-2016 11:42am
    #1
    NUTLEY BOY
    Registered Users, Registered Users 2 Posts: 2,344 ✭✭✭


    Considering cancelling my health insurance policy with Laya. - Long story...

    I understand the policy wording to mean that if I renew, as I did in January, I must stay with Laya for the rest of this policy year up to 31.12.2016.

    I read the wording to mean that irrespective of how I paid - one payment or direct debit - I cannot cancel the policy and get a refund for the unexpired portion of the insurance year.

    Indeed, I also read it to mean that if I cancelled and stopped direct debits that Laya could pursue me in contract for the premium for the whole year.

    Am I reading this correctly ? Does anyone have experience of trying to cancel mid-term ?

    Any views welcome.


Comments

  • #2
    peteb2
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭peteb2


    NUTLEY BOY wrote: »
    Considering cancelling my health insurance policy with Laya. - Long story...

    I understand the policy wording to mean that if I renew, as I did in January, I must stay with Laya for the rest of this policy year up to 31.12.2016.

    I read the wording to mean that irrespective of how I paid - one payment or direct debit - I cannot cancel the policy and get a refund for the unexpired portion of the insurance year.

    Indeed, I also read it to mean that if I cancelled and stopped direct debits that Laya could pursue me in contract for the premium for the whole year.

    Am I reading this correctly ? Does anyone have experience of trying to cancel mid-term ?

    Any views welcome.

    Correct. No one allows mid terms cancellations with a pro rata return so if you pay by dd they are merely facilitating your monthly payment of an annual premium.


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