Walrus67, The plan is not refundable once inside the cancellation penalty period. As has been noted, it may not be the best, or the least expensive, but it is better than none.
For anyone that purchases the Carnival Vacation Protection Plan, I strongly urge you to take a copy of the plan. Here is a link.
PC GUY- That is a very good idea for people to check what coverage they may already have with credit cards. That way they can add only the additional coverage they want, and save some money.