Cancellation of a transaction in accordance with the Consumer Protection Regulations (Cancellation of a Transaction), 2010 and the Consumer Protection Law, 1981
Cancellation of joining the fund:
Any member will be entitled to cancel his membership in the fund at any time by written notice.
If it is found that the person registered as a subscriber did not declare a medical problem of the type listed in section 3.5 and/or registered contrary to what is stated in the bylaws, his membership will be canceled immediately and his rights will be retroactively canceled. A subscriber whose membership has been canceled pursuant to the provisions of this section shall not be entitled to any compensation and/or indemnification for monies collected from him and/or for any other reason.
A subscribing member who did not request to cancel his membership and who does not make payments that he must make according to these regulations, and/or otherwise falls behind in payments for a period exceeding 90 days from the date of collection of payment by the fund, will automatically be considered to have canceled his membership in the fund and his membership will expire without A written notice is required on the 90th day from the day he did not remit a payment he was supposed to remit.
Notwithstanding what is stated in this section, a subscriber who has made payments regularly for a period of at least 6 months and who has not made the payment(s) that he must make according to these regulations for a period exceeding 90 days from the date of collection of the payment, his orphans will be entitled even after the cancellation until the end of 6 months from the day he stopped making said payments to receive half the amount they would have been entitled to receive if he had made the payments. This relief will only apply the first time the subscriber refrains from paying payment(s) for a period exceeding 90 days.
A subscribing member whose membership in the fund was canceled:
If he requested to rejoin the fund before the end of 6 months from the day he announced the cancellation of his membership and/or from the day he did not transfer a payment he was supposed to transfer to the fund, he will be able to join the fund from the date he announced his desire to join again, without the need to fill out a new health declaration, but he will have to complete the payments he did not make until that date.
If he requested to rejoin the fund after 6 months have passed from the date of the cancellation of membership and/or from the day he did not remit a payment he was supposed to remit – he will be required to comply with the conditions of the fund as a new member, including filling out a new health declaration for him and his spouse as stated in section 3.5 above.
A contributing member will be allowed to rejoin at any time, without having to pay for the period in which he did not make payments.
A subscribing member whose membership has been terminated for any reason – is not entitled to any refund of payments he made before his membership was terminated.
