Refunds & Cancelations

Individual Accident Policies issued by PALIC

With respect to individual accident policies issued by Pan-American Life Insurance Company, Hola Seguros, LLC (“Agency”) shall make refunds to purchasers as follows:

All refunds and cancellations are subject to the terms and conditions articulated in the insurance policy documents issued by Pan-American Life Insurance Company.  In the case of any conflict between this Refund and Cancellation Policy and the insurance policy documents, the terms of the insurance policy documents shall govern. 

Refunds: If customer is not fully satisfied with this policy, customer may void the policy by returning the policy document within 10 (ten) days after receipt, and customer’s premium will be refunded.  When so returned, the policy will be void from the beginning. The policy must be returned to Pan-American at its Home Office address listed in the policy documents.

Cancellations: The insurance policy purchased by Customer renews monthly. Customer must pay the renewal premium to keep the policy in force. Customer may terminate the insurance policy at any time by giving Pan-American Life Insurance Company written or verbal notice in advance of such termination.  Notice of termination must be sent to Pan-American at the address and phone number in the policy documents.  The effective date of termination will be the date Pan-American receives such notice, or a later date that Customer advises.  Pan-American (or Agency on behalf of Pan-American) will return any unearned premium to Customer.  No refunds are payable for cancellations after the 10-day period following initial policy receipt by Customer.  

Automatic Termination: 

The insurance policy will terminate at 11:59 PM standard time on the earliest of:

1. the premium due date if premiums are not paid when due, subject to the policy’s Grace Period;

2. the date the Policyholder requests in writing that coverage be terminated;

3. the end of the Policy Year in which customer attains the Termination Age specified in the policy’s Schedule of Benefits; or

4. the date in which the Customer dies, unless coverage is provided for a Covered Dependent.