You understand that BimaBuy has tied up with payment gateways authorized by the Reserve Bank of India to allow you to make online payments towards any payment related to the services and is only acting as a mere facilitator and providing its assistance to its customers for speedy refunds.
The premium paid towards an insurance policy directly goes to the respective insurance company, and if you want to cancel or request a refund of the policy, you need to get in touch with your insurance company. All requests are subject to the underwriting guidelines of the insurance company. There may be some cancellation charges that shall be deducted from the refund amount and the refund process may take 30 days or more. All payments with respect to refunds shall be the sole responsibility of the insurer as per the rules and regulations laid down by the IRDAI.
At BimaBuy, we charge a one-time lifetime fee to become a POSP, which is non-refundable under any circumstances. If someone wishes to disassociate from us, we will provide them with an NOC, but the fee charged will not be refunded.
We encourage all our customers to read the insurance policy document, terms & conditions carefully to understand and avoid anydamage. However, in case you wish to get more information, you can contact us at help@bimabuy.in