Aapka Policywala Insurance Broking Services Pvt. Ltd.

IRDAI Registration Code: IRDAI / DB1058 / 2023
IRDAI Registration No.: 933
Category: Direct Broker (Life & General)
License Validity: 19.01.2024 – 18.01.2027

1. General Refund Policy

Aapka Policywala Insurance Broking Services Pvt. Ltd. is an IRDAI-licensed insurance broker that facilitates the purchase of insurance policies from various insurers. Refunds, cancellations, and policy withdrawals are subject to the terms and conditions of the respective insurance company in compliance with IRDAI guidelines.

Since we act as an intermediary between the customer and the insurance provider, refunds are processed as per the insurer’s policies. However, we assist policyholders in raising refund requests and resolving related queries.

2. Eligibility for Refunds

A refund may be considered under the following circumstances:

a) Free Look Period Cancellation

As per IRDAI regulations, if a policyholder wishes to cancel a life or health insurance policy within the free-look period (typically 15 to 30 days, depending on the insurer), a refund may be issued after applicable deductions (administrative charges, stamp duty, and medical expenses, if any).

b) Duplicate Payment

1. If a customer accidentally makes multiple payments for the same policy, the excess amount will be refunded after verification.
2. Customers must notify us within 7 days of the duplicate transaction.

c) Transaction Failure

If a payment is deducted but the policy is not issued, we assist in coordinating with the respective insurer to resolve the issue and process a refund.

d) Policy Rejection by Insurer

If the insurance provider declines the policy application due to underwriting reasons, the refund will be processed directly by the insurer as per their terms.

3. Non-Refundable Scenarios

Refunds will not be processed under the following conditions:

• Cancellation beyond the free-look period.
• Brokerage, service charges, or GST are non-refundable.
• Misrepresentation or fraudulent information in the policy application.
• If a claim has already been filed under the policy.
• For motor and general insurance policies, cancellation is subject to the insurer’s policy terms.

4. Refund Process

a) How to Apply for a Refund?

To initiate a refund request, policyholders can:
Email Us: info@aapkapolicywala.com
Call Us: +91 8390008390
Visit Our Office:

• Registered Office: BOOTH NO. 13, ANAJ MANDI, BHATTU MANDI, BHATTU KALAN, FATEHABAD, HR, IN, 125053
• Corporate Address: DSS-121-G-Floor Commercial UE-ll, Hisar, Haryana, Pin Code- 125005

b) Processing Time

• Refund requests are reviewed and forwarded to the insurer within 3-5 business days.
• Upon approval by the insurance company, refunds are processed within 7-14 working days, depending on the payment method.
• Refunds are credited to the original payment method (bank account, credit card, UPI, etc.).

5. Contact for Refund-Related Queries

For any refund-related concerns, customers can contact us:

Phone: +91 8390008390
Email: info@aapkapolicywala.com
Office Locations: (As mentioned above)

We are committed to assisting our customers throughout the refund process and ensuring a smooth resolution.

6. Legal Disclaimer

• Refunds are subject to the insurer’s terms & conditions.
• Aapka Policywala Insurance Broking Services Pvt. Ltd. does not hold or collect insurance premiums—payments are made directly to the insurer.
• We act only as a facilitator and shall not be liable for any refund disputes beyond our control.