3 Life Insurance Cancellation Letter Templates: Save Time

Creating a life insurance cancellation letter involves communicating your intent to terminate your policy clearly and concisely. Below are three unique templates you can customize for your situation. These templates are designed to address different circumstances you might find yourself in while canceling a life insurance policy.

Template 1: Standard Cancellation



[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Insurance Company Address]
[City, State, Zip Code]

Subject: Cancellation of Life Insurance Policy No. [Policy Number]


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Dear [Insurance Company Name],

I am writing to formally request the cancellation of my life insurance policy, Policy No. [Policy Number], with immediate effect or as per the earliest date possible according to the policy’s terms and conditions.

I have decided to cancel this policy for personal reasons and have ensured that no premiums are due as of the date of this letter. Please confirm the termination of the policy in writing, including the date of termination and any applicable refund of the premium I am entitled to.

I would appreciate your prompt attention to this matter and the confirmation of the cancellation process’s initiation. Please advise on any necessary steps or documents required from my end to complete this process efficiently.

Thank you for your cooperation.

Sincerely,

[Your Name]


Template 2: Cancellation with Transfer to New Policy

[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Insurance Company Address]
[City, State, Zip Code]

Subject: Request for Cancellation of Life Insurance Policy No. [Policy Number] and Transfer to New Policy

Dear [Insurance Company Name],

I am contacting you to request the cancellation of my existing life insurance policy, Policy No. [Policy Number], effective [Date], or at the earliest opportunity as allowed by my policy terms.

This decision comes as I have opted for a new insurance policy that better suits my current needs and circumstances. To ensure a smooth transition, please provide detailed instructions on transferring any accrued value or benefits from my existing policy to my new policy, if applicable.

Kindly acknowledge this cancellation request by sending a confirmation letter stating the effective date of cancellation, details regarding the transfer process if applicable, and any refund of unused premiums that I may be entitled to.

Your assistance in this matter is greatly appreciated, and I look forward to your prompt response.

Warm regards,

[Your Name]


Template 3: Cancellation Due to Financial Hardship

[Your Name]
[Your Address]
[City, State, Zip Code]
[Phone Number]
[Email Address]
[Date]

[Insurance Company Name]
[Insurance Company Address]
[City, State, Zip Code]

Subject: Cancellation Request for Life Insurance Policy No. [Policy Number] Due to Financial Hardship

Dear [Insurance Company Name],

I am writing this letter to request the cancellation of my life insurance policy, Policy No. [Policy Number], effective from [Date] or the earliest date possible as per the policy’s terms. This request is made with a heavy heart due to unforeseen financial hardships that have made it impossible for me to continue paying the premiums.

I request your understanding and cooperation in processing this cancellation promptly. Additionally, I would like to inquire about any refunds of premiums or accumulated cash value that may be due to me upon the cancellation of this policy.

Please provide written confirmation of the policy’s cancellation, including the effective date and details regarding any financial adjustments that will be made. If there are any further requirements or documents needed from my side, kindly let me know at your earliest convenience.

Thank you for your attention to this matter and for your understanding during this challenging time.

Sincerely,

[Your Name]


When sending your cancellation letter, make sure to check the specific requirements of your insurance company, as some may require additional documentation or have specific procedures for policy cancellation. 

It’s also advisable to send your letter via certified mail or with delivery confirmation to ensure it’s received and to have a record of your request

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