Letter to Request Cancellation of an Insurance Policy

You may take a policy i.e. life insurance policy, car insurance policy, etc., and may also want to cancel it due to one reason or the other. It is sometimes after taking choices that one realizes his selection was wrong. Insurance plans are made with careful strategies to attract maximum people but even then, one can lose interest in a policy or would want to look for other choices.

In such situations, the first thing one should do is to request the relevant company to cancel the policy. Insurance companies have their policy cancellation rules defined and hence the policies can be canceled anytime remaining compliant with the company’s terms and conditions.

Here’s how you should write a policy cancellation letter;

• Since it is a very formal letter. Keep it relevant and clear. Say in the very opening why the letter has been written.
• Request the company to inform you of cancellation and provide a written proof.
• Sign your letter properly.

This letter can be used to request the cancellation of a policy.

Letter -1

Dear Sir/Ma’am,

I [name], policy number [number] want to request a cancellation of my insurance policy. I had obtained your [name] insurance plan on [date] and have been paying the dues annually on time. The reason that I want to cancel my insurance policy is that I would be immigrating to [country name] and it would not be feasible for me to continue an insurance plan here.

Kindly cancel my policy effective [date] and deposit my premium at [account number]. In case of any queries, you can call me at [phone number] or email me at [email address].

2-

Dear Sir/Ma’am

I have been a huge fan of your reputed insurance agency and have multiple policies. I have a policy for my children’s education and all my vehicles are insured. I always pay the due amount on time and am quite satisfied with the plans and the premiums offered.

However, due to some loss in business paying for multiple policies is becoming difficult for me. I have given a lot of thought to this matter and decided to cancel the [name of policy], as my children’s education is already being covered by the [NAME OF PLAN] plan and I cannot afford to pay for multiple covers at this point in time.

I hope you would cooperate and pay all the premium accumulated till now without any cutbacks or fines. Looking forward to your understanding.

3-

I am Robert Faux and this letter serves to make you a formal request regarding the cancellation of my insurance policy. With full remorse, I am letting you notify that current swaps made in your policy do not come up to my satisfaction level, and for this reason, I will not be able to continue it.

The signed and sealed date to cancel the insurance policy is [Mention Date]. Therefore, you are requested to kindly stop invoicing charges for this purpose and give back all premium that is unaccustomed to the aforementioned address.

I would appreciate you if I receive confirmation in written form regarding the cancellation of the insurance policy within twenty days of the issuance of this letter. If you have any queries then kindly let me know and I can be contacted via email. Bundle of thanks to you for taking swift reaction in this regard.

Letter -4

Dear [Name],

Please accept this formal request for cancellation of my life insurance policy with you, the reference number of which is #123456. I want the cancellation to take effect from [enter date]. Also, I request you to refund the remaining dues and provide me with a written confirmation when the policy is canceled. Thank you!

Sincerely,

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