Insurance Cancellation Letter is written to the insurance company when an individual does not want to continue to pay premiums to the concerned insurance company. Usually, insurance company policies do not impose any restriction which prohibits the right of cancellation of the policy.
The first step before writing the cancellation letter is to look at the policy you have to check whether there are any provisions about the cancellation as well as notification. You may find details about how to cancel the policy, the notice you should provide and to whom the letter should be written. It is essential to follow the specific mentioned instructions if any in the policy for its cancellation.
However, often the cancellation provision in an insurance policy only references cancellation by the insurer. If there are no specific instructions regarding cancellation by you, all you will need is your insurer’s contact information.
Here is some sample letter of insurance cancellation along with the useful tips to help you write an insurance cancellation letter for the credit card or any other object for a client.
Insurance Cancellation Letter Writing Tips
- Go through the policy carefully to know the correct procedure for cancellation.
- Mention clearly that you would like to discontinue the payment of premiums and want to cancel the existing policy.
- You should state that the charges regarding premium payments should be stopped with immediate effect.
- Mention your policy number clearly so that it will be easier for tracking your previous payment records.
- It is better if you can find out the name of the concerned authority so that the letter can be directly addressed to the concerned person.
Insurance Cancellation Letter Template
Use our free Insurance Cancellation Letter to help you get started.
From,
_____________
_____________
_____________ ( your address)
Date: _________________ ( Date of which letter is written)
To,
_____________
_____________
_____________ ( address of the person the letter is addressed to)
Dear…….(name of the employee),
I am writing this cancellation letter to withdraw my life insurance policy with your company. My policy number is …………… (Policy no.) And it should be effective from……….(mention date).
I also request you to stop all charges related to the payment of premiums. The matter should be dealt with immediate effect, and it should be processed within 30 days of this letter.
I expect quick action in this regard and any information related to the cancellation of this policy should be sent to me at the earliest.
I request you to return the payments made during the tenure of this policy.
Yours truly,
__________ (office’s name)
__________ (your name)
__________ (your designation)
From,
__________
__________
__________
Date: ________ (date of writing the letter)
To,
__________
__________
__________
Subject: Regarding the termination of your policy _______________ (policy number if any)
Dear _____________ (name of customer),
This is written with reference to the notices sent to you by our ____________ (official concerned), ________________ (date concerned) about the timely payment of the premiums of the policy __________________ (policy description) and your lack of interest in doing the same.
According to our company’s regulations and norms we have decided to terminate the policy under Clause 6 of our customer services agenda within _________________ (date of termination). The clearing of the mutual dues remaining will be carried out on the mentioned date, and we will be relieved of our duty to serve you. We hope this will be treated with the urgency it deserves.
Thank you.
With regard,
Name and Signature
Insurance Cancellation Letter Sample
The following is a Sample of an Insurance Cancellation Letter.
From,
Thomas Alva,
44th Street,
Wembley
Date: DD/MM/YYYY
To,
The Insurance Doctor,
Wembley Central
Subject: Insurance Cancellation
Dear Sir,
Please accept this letter as a formal request for cancelling my life insurance policy, 108978, with immediate effect. I request you to stop all charges and debits as well as related to the payments. I can produce receipts of all premium paid during the tenure of this policy.
I at this moment request to cancel and return the premium I have paid earlier. This cancellation request should be processed within 30 days from the date of this letter.
I request you to send a cancellation confirmation letter related to the policy. Please treat the matter as urgent and process it at the earliest.
Yours Sincerely,
Thomas Alva.
From,
36D, M G Road
ABC Technologies Ltd,
Bandra East, Mumbai.
Date: ________ (date of writing the letter)
To,
302, J C Road,
Burdwan Compound,
Lalpur, Ranchi,
Jharkhand.
Subject: Regarding the termination of your Policy no. 54862
Dear Mr.John,
This is to inform you about the notices sent to you by our Chief Marketing Officer, dated XYZ about the timely payment of the premiums of the Policy no. 123456 and your lack of interest in doing the same.
According to our company’s norms, we have decided to terminate the policy under Clause 6 of our customer services agenda within PQR. The clearing of the mutual dues remaining will be carried out on the mentioned date, and we will be relieved of our duty to serve you. We hope this will be treated with the urgency it deserves.
Thank you
With regard,
Name and Signature
Insurance Cancellation Letter Email Format
The following is the Email Format that should be followed while writing an Insurance Cancellation Letter.
Dear Mr. Sloan,
It is with regret that I have to inform you that your policy # 10298, taken in the year 2006 has been terminated.
We had sent repeated requests for you to deposit your monthly premiums on time. Kindly refer to our letters sent on 2nd February, 4th March, 4th April and 6th May. The payments were not honored.
We have had no feedback from you since January. Since it is our company’s policy to terminate the insurance claims of such persons who do not pay premiums for more than four months, we are informing you of the same.
Thank you.
Yours Sincerely,
Ruth Mathews
General Insurance Pvt. Ltd.
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