May I get a refund on my group insurance premium?

J.L. from New York asks: Dan, I am sad to report that our group’s tour has been cancelled. We get all of our deposit money back and incurred no penalties. We bought our group insurance from you in July and paid a premium of $480. May I have a refund of premium?

Dan answers:

On group plans, the answer is yes, we can request a refund of premium. All J.L. had to do was provide me a copy of the letter from the tour operator stating that her deposits had been refunded and she incurred no losses whatsoever. So all went well for J.L., and she got her $480 back.
Had J.L. purchased an individual travel insurance policy, the outcome would have been different. Once you are past an individual travel insurance plan’s “Free Look” period — usually 10 to 15 days from purchase date, but it varies by plan — then the policy is not refundable. However, if you do have a trip cancelled, you may move your insurance to cover another trip, if you have no claims made against that policy.