Thank you for choosing easycover.my for your insurance needs. We strive to provide you with the best service and support. This Refund Policy is only applicable if the Insurance Product that you wish to return are purchased from our Platform. Please read this policy carefully before making a purchase.
Schedule 8, Paragraph 2 of the Financial Service Act 2013 (FSA) (https://www.bnm.gov.my/documents/20124/820862/Financial+Services+Act+2013.pdf) states that a policy owner may, within fifteen days or such longer period as may be specified by the Bank after the delivery of a life policy of any description to him, return the life policy to the licensed life insurer and it shall immediately refund any premium which has been paid in respect of the life policy subject only to the deduction of expenses incurred for the medical examination of the life insured.
Please note that the 15 days period is based on the date policyholder received the policy contract or the postal date if by registered post. For example, policyholder has acknowledged receipt of the policy on 15th January, but thereafter decides to cancel the policy. The request to cancel the policy must reach the company latest by 30th January.
Concerning different types of insurance policies or takaful certificates, the presence of a cooling-off period relies on the specific terms and conditions associated with the relevant product or service. It’s important to be aware that the availability and duration of this cooling-off period are defined by the terms and conditions outlined in your insurance policy or takaful certificate, which are set by the insurer. Therefore, we recommend thoroughly reviewing the terms and conditions within the insurance policy or takaful certificate before making a purchase.
If you wish to cancel your policy after the cooling-off period, the refund will be pro-rated based on the remaining coverage period of the policy. A cancellation fee of [Y]% of the total premium paid will apply to cover administrative costs.
All refund requests are handled on a case-by-case basis by the relevant insurance providers. The insurer reserves the right to make an investigation and the duration of refund may vary for refund requests, if approved and paid. All refunds are at the discretion of the insurer and the easycover.my will inform the user if his request is approved or not via our platform.
Refunds may be granted under the following circumstances:
To request a refund, please follow these steps:
Once your refund request is approved, refunds will be processed within 7-14 business days. The timing of the refund reaching your account may vary based on your payment method and financial institution.
Refunds will not be granted under the following circumstances:
Refunds will be issued in the same currency and through the same payment method used for the original purchase.
easycover.my reserves the right to review refund requests on a case-by-case basis and exercise discretion in certain situations that are not explicitly covered by this policy.
If you have any questions or need assistance regarding our refund policy, please contact us at [[email protected]]
All refund requests are handled on a case by case basis by the relevant insurance providers. The insurer reserves the right to make an investigation and the duration of refund may vary for refund requests, if approved and paid. All refunds are at the discretion of the insurer and the easycover.my will inform the user if his request is approved or not via the Site.
There’s a processing fee not exceeding RM5 (unless notified otherwise) upon any order cancellation in accordance to the policy. easycover.my reserves the right to impose administrative charges on any refund requests by the user to the insurance providers. If you feel you were incorrectly charged a processing fee, you may contact easycover.my via [[email protected]].
All cash vouchers are not refunded. Only the balance amount that the Customer has paid will be refunded. This applies to bundled Products, promotional Products, or Products that come in set.
