Insurance Contract Cancellation

Cancellation of the agreement of voluntary medical insurance is possible in coordination of two parties or at the initiative of the insurer or insured person.

The most common cause of early agreement cancelation at the initiative of an insurance company is non-payment by the insured person of policy installment. Also, it is possible for the provision in use of a policy to the persons which aren’t specified in it. Not provided complete and reliable information in profile in due time, also can be a reason for agreement cancelation.

From the insured person the agreement cancelation more often is a result of evasion from payments for an insurance or not high-quality accomplishment of liabilities by insurance company.

The agreement loses its force, also, in case of identification of the fact of concealment of diseases at the time of the agreement conclusion from the list of “people not possible to be insured “. The disabled people of the first group, HIV-positive people who are under supervision at drug abuse and psychiatric clinics, passing treatment at hospitals at the time of the conclusion of the agreement are included into this list. In such cases the agreement loses its force and payment for an insured event is not made even if it is not included into the list of above-mentioned diseases.

Automatically the agreement stops its action “on the insurance expiration”.

In case of pre-term agreement cancelation of medical insurance, the insurance company is obliged to return a fee difference for the period in which services of insurance won’t be provided. It is authorized to deduct overhead charges.

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