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Will I get back the excess premium payment which I made by mistake?

You can get either the refund of excess payment or get it adjusted with your next premium
By OLM Desk | October 13, 2017

I made a duplicate premium payment on my life insurance policy by mistake–one by cheque, the other online. I have both receipts. Will I get back the second payment or will it be adjusted with the next premium? 

Mohit Ahuja, Noida

You can get either the refund of excess payment or get it adjusted with your next premium. All you have to do is to write to the insurers giving all the particulars of both the payments along with your choice of adjustment. If your next premium is becoming due shortly, you may go for adjustment with it. Otherwise, ask for the refund.

 

olmdesk@outlookindia.com

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