MDA Services

REFUND PROCEDURES

Refunds Due to Loan Being PAID OUT

1. Proof of payout must be supplied to MDA Services along with a cancellation form in order for refund to be processed. (Proofs of Payout - Letter of Release from the finance company or receipt, a copy of the Dealer's cheque if traded in at dealership or bill of sale showing lien payout.)

2. If the refund is being assigned to anyone other than the customer, we will need the signature(s) of the debtor and the joint debtor (if applicable) authorizing this. If no signatures are given, the refund will be sent joint payable to the insured(s) and the assignee.

Customer Request - Loan is NOT PAID OUT

Cancellation form signed by the insured(s) authorizing that the insurance is to be cancelled and the refund is to be issued to the finance company. Supplying the address and loan number for the finance company.

*All Refunds Are Issued to the Finance Company if Loan is NOT Paid Out.
IF REFUNDS DO NOT HAVE THE REQUIRED INFORMATION, THEY WILL NOT BE PROCESSED.