Payments, Refunds
& Cancellations

Scope of this policy

This Payments, Refunds and Cancellations Policy applies when you use Pluto Insurance to apply for or service an insurance product. Pluto Insurance is operated by GreenLife Insurance Broking Private Limited (“GIBL”), an IRDAI-registered insurance broker.

This policy explains the general process. The insurer's product terms, policy wording, benefit illustration, cancellation rules, and refund calculations apply to the specific insurance contract.

Who does what

GIBL does not underwrite insurance risk and does not determine whether a policy or claim will be accepted.

Premium payments

Premiums are payable to the insurer through authorised payment channels made available during the application or renewal journey. Available methods may include UPI, net banking, debit or credit card, wallet, electronic mandate, or another method supported by the insurer or payment provider.

You authorise the relevant payment provider and financial institution to process the amount you approve. You are responsible for providing accurate payment details and ensuring that you are authorised to use the selected method.

A payment acknowledgement confirms the transaction attempt or receipt of funds; it is not, by itself, proof that insurance cover has begun.

Failed, pending, or duplicate payments

A transaction may fail or remain pending because of bank downtime, network interruption, authentication failure, payment limits, or another issue outside our control.

1. Check the transaction status. Review your bank statement and the status shown on the Platform before paying again.
2. Allow automatic reconciliation. A failed transaction that was debited is often reversed automatically by the bank or payment provider.
3. Contact us if it remains unresolved. Share the proposal or policy number, transaction reference, amount, date, and a suitable proof of debit. Do not send full card credentials, passwords, PINs, or one-time passwords.

If a duplicate premium reaches the insurer, the insurer or payment provider will verify the transaction and process any eligible reversal or refund.

Policy issuance and proposal deposits

Policy issuance is subject to the insurer's underwriting rules and receipt of required information, documents, medical reports, inspections, and premium. The insurer may accept the proposal, offer revised terms, request more information, postpone a decision, or decline it.

If the insurer does not issue a policy, any amount eligible for return will be handled by the insurer in accordance with applicable rules and its process. GIBL may help you track the status but cannot override the insurer's underwriting decision.

Cancellation and free-look requests

You may request cancellation where the insurer's product terms or applicable regulations permit it. Certain life and health insurance policies may include a free-look period stated in the policy document. The period, eligibility, required documents, and deductions vary by product and insurer.

To request cancellation, contact us or the insurer promptly and provide the policy number, reason, identity verification, bank details or a cancelled cheque where requested, and any other required document. A request is complete only when all required information has been received.

Non-life policies may have different cancellation rules depending on whether cover has started, whether any claim has occurred, and the short-period or pro-rata terms in the policy.

When a refund may be available

Depending on the insurer's rules and applicable law, a refund may arise from:

• A failed or duplicate transaction where funds were received more than once.
• Decline or non-issuance of an insurance proposal.
• An approved cancellation or free-look request.
• An approved policy endorsement or adjustment that reduces premium or another correction authorised by the insurer or payment provider.

A change of mind does not automatically create a refund right. Eligibility and the amount are determined under the policy terms and applicable regulations.

Refund method and timing

Where possible, refunds are returned to the original payment method. The insurer may request verified bank details and process a direct credit or another permitted method where an original-method refund is unavailable.

Processing begins after the insurer approves the refund and receives all required documents. The time taken depends on the insurer, payment provider, banking network, payment method, and applicable regulatory timeline. After release, your bank may need additional time to reflect the credit.

We will assist with reasonable status follow-up, but GIBL cannot guarantee a date controlled by the insurer, bank, or payment provider.

Possible deductions

The insurer may make deductions permitted by the policy or law. Depending on the product and reason for cancellation, these may include proportionate risk premium for the period of cover, medical examination cost, stamp duty, taxes already remitted, or other disclosed charges.

The insurer's refund statement or communication should explain the calculation. Contact us if you need help understanding it.

Payment disputes and chargebacks

Please contact us first if you do not recognise a charge or believe a payment was processed incorrectly. This allows us to review the proposal, insurer receipt, and transaction trail.

Starting a chargeback does not cancel an issued policy. An unsupported reversal may affect policy status or create an outstanding premium. Fraudulent payment disputes may be reported to the insurer, payment provider, or relevant authority.

Claim payments are separate

An insurance claim payment is not a premium refund. Claims are assessed and paid by the insurer under the policy wording, coverage, exclusions, evidence requirements, and applicable claims process. GIBL may provide claims assistance but does not decide or fund claim settlements.

Support and grievances

For faster help, include your registered contact details, proposal or policy number, transaction reference, amount, date, issue description, and a redacted proof of payment. Never share a password, PIN, CVV, or one-time password.