Does the company have the right to refuse refunding the residue of insurance premium to the employee whose insurance has been cancelled?

​The company is not entitled to do so, as long as the policyholder provides the Company with cancellation regularity and that the medical claims for the insured did not exceed 75% of the value of annual subscription. The amount to be refunded from subscription value is calculated on a pro rata basis (Refunded amount = annual subscription ÷  365.25 days × number of remaining days). 

Last Update : 3/30/2017 6:48 PM