Refund Policy

Probus Insurance Brokers Private Limited

Effective Date: 2nd June 2026

Probus Insurance Brokers Private Limited (“Probus”, “we”, “our”, or “us”) acts as an insurance broker and facilitates the purchase of insurance policies offered by various insurance companies. We do not underwrite insurance policies and do not independently determine premium refunds.

  1. Insurance Policy Cancellation and Refunds

Any request for cancellation of an insurance policy and the corresponding refund of premium shall be governed by:

  • The terms and conditions of the respective insurance policy;
  • The underwriting guidelines of the concerned insurer;
  • Applicable regulations, guidelines, and circulars issued by the Insurance Regulatory and Development Authority of India (IRDAI); and
  • Any applicable statutory deductions, charges, taxes, or administrative fees.
  1. Processing of Refunds

Upon receipt of a valid cancellation request and approval by the concerned insurer:

  • The refund amount, if any, shall be determined solely by the insurer.
  • Probus shall not be responsible for determining the refund amount.
  • Refunds shall be processed by the insurer directly or through the original payment mode, as applicable.
  • The timeline for processing refunds shall depend upon the insurer’s internal processes and banking channels.
  1. Non-Refundable Amounts

The following amounts may not be refundable, subject to the insurer’s policy terms:

  • Risk premium for the period during which insurance coverage was provided;
  • Applicable taxes and statutory levies already remitted to government authorities;
  • Inspection charges, medical examination costs, or other charges incurred by the insurer;
  • Any other deductions permitted under applicable laws and policy terms.
  1. Incorrect or Duplicate Payments

In the event of an excess, duplicate, or erroneous payment made by a customer:

  • The customer must notify Probus immediately.
  • After verification, the amount shall be refunded or adjusted, as applicable.
  • Refunds shall be processed within a reasonable period subject to verification and banking procedures.
  1. No Guarantee of Refund

Submission of a cancellation request does not automatically entitle a customer to a refund. All refund requests shall be subject to approval by the concerned insurer and applicable regulatory requirements.

  1. Contact Details

For any queries regarding policy cancellations or refunds, please contact:

Probus Insurance Brokers Private Limited

Email: care@probusinsurance.com

Phone: 91- 7304332968

Website: https://www.probusinsurance.com/

  1. Amendments

Probus reserves the right to amend or modify this Refund Policy at any time without prior notice. Any changes shall become effective upon publication on the website.