Insurance sample cancellation letter

It is essential you have insurance but remember if your circumstances change for whatever reason you have the right to cancel a life assurance policy  or any  - it is recommended this is done in writing and sent by recorded delivery so you have proof of sending.

Also remember that the insurance company will fight hard to try and stop you cancelling but as long as you stick to the terms and conditions of your policy you have the right to cancel. - ASK ABOUT CANCELLATION WHEN YOU TAKE OUT THE POLICY

So if you wish to cancel your policy

• Check your terms and conditions 
• Only the policy holder can cancel the policy  - do not ask someone else in your family to do this as the company will ask security questions 
• The following is a template you can use to send to your insurance company in order to cancel your policy  - so once you have called to advise you wish to cancel the policy you can then use the following template

Insurance sample cancellation letter template

Date
Cancellation Dept -  ( and name of who you spoke to )
Name of insurance company
Their address with postal code  / zip code

Ref - your policy number name and address

I writing to inform you that I wish to cancel the above  insurance policy from ( insert date ) . Please confirm back to me within 30 days that the cancellation has been actioned. Please refund any monies outstanding and cancel any direct debit arrangements in place.

Thank you for your assistance

Yours faithfully ( Your signature ) 
Your full name

NOTE: Remember to cancel any direct debit arrangements in place with your bank this will prevent any premiums being collected that shouldn't be. I would advise sending the letter by registered post to ensure delivery and keep a copy and receipt of postage as proof of sending. 

Disclaimer
All Information on this site 'howmuch-does-lifeinsurance.com' is for information purposes only and not intended to constitute professional advice as circumstances will vary from person to person. Information will not always be up to date and therefore cannot necessarily be relied upon. We strongly advise professional advice is sought before taking out any policies.

If you’ve never considered life insurance before—or if you already have a policy—

here are 10 things you should know:

1. On the case of your death the money paid out by life insurance can be used for mortgage, education and any other general living costs.

2.Depending on the life style your family enjoys you should consider insuring yourself for up to 10 times your gross income.

3. Some employers offer life assurance or death inservice benefits 0 this may not be enough to cover out-goings in the case of your death, and will be invalid if you leave the company.

4. Even if you spouse is not working its crucial you cover them too so that the income however small they contribute is covered.

5. Your personal circumstances will continually change so make sure even after you have purchased life assurance so make sure you review it yearly to check it covers any changes such as a new mortgage, new baby etc.

6. You need to investigate how much of each type of life insurance - permanent and term - is right for you.

7. Permanent life assurance can build a cash value that can assist with your income as you get older and your income decreases. Term life assurance as it has a fixed term is generally more affordable.

8. If you are unsure how much coverage you need the compare web sites will have Life Insurance estimator tools available to use.

9. Most companies will offer a free quote for life assurance so do not assume you cannot afford it - use there on line tools to obtain a quote.

10. Aalternatively speak to a financial professional who has the right qualifications to help and advise you.