Mostly a south Indian festival, Vishu is the dawn of a new astronomical year, and the day marks the first day of the Malayalam month of Medam that corresponds with April in the Gregorian calendar.
They will issue a refund and depending on the method of refund, this should be completed within 28 days. You will be asked to return all documentation regarding the gap insurance you have cancelled and the cover will cease at this point.
How Long And Why Do You Have To Keep Expired Insurance Policies. You don't have to keep an expired insurance policy. If the policy is no longer in force, the policy documents have no value. You should keep the policy for a few months after it expires in case you decide to reinstate the policy. Some companies will allow you to make up back premiums for 60 or 90 days to put the policy back in force.