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If you want to cancel your life insurance coverage, you must do it in writing. After that, the life insurance cancellation letter will be mailed to the insurance company by certified mail.
This is the most effective way to contact life insurance companies and explain your intentions. A letter also saves policyholders from having to speak with a company person directly. Following a series of procedures makes writing a life insurance cancellation letter simple.
Review Policy Information

It is possible to cancel a life insurance coverage at any moment. There are no limitations on the right to terminate a coverage in a life insurance policy.
Examine the policy’s information to ensure that the right cancellation procedure is followed. Preparing a rough draft of the life insurance cancellation letter is the next stage.
Prepare Rough Draft
A rough draft can be written on a computer or on normal paper using a text editor. The date should be written first on the preliminary draft.
This should be placed in the document’s upper left corner. Below the date, write or type the policyholder’s name and address.
The name of the insurance appears beneath the address. If you’re writing to an agency or a firm representative, include the contact person’s information. The account number will be on the next line, followed by a topic line.
Opening Paragraph
Begin by demanding the cancellation of the life insurance policy in the first paragraph. Make sure to include a statement declaring that all payment charges or debits will be halted.
The date on which the policy will be effectively canceled should be stated in the following sentence. If the letter is not ready to mail before the monthly premium due date, make sure to send any payments that are due.
Any overpayment premiums will be refunded by the life insurance company. When submitting premium refunds, if the insurance includes a monetary value, request that the amount be reimbursed by check.
The Salutation
At the end of the letter, provide a salutation. This will eliminate any doubt regarding the intention to cancel the policy.
For the salutation, use the term “Sincerely” or “Best Regards.” The last section of a life insurance cancellation letter is this. Always sign the letter beneath the salutation.
Final Steps
The next stage is to turn the rough copy into a final letter. This can be accomplished by either sending the message to a printer or typing a fresh letter from scratch. Make two copies of the letter of cancellation.
One copy should be signed and sent to the insurance company. The second letter is intended for personal use.

Sample 1 - Life Insurance Cancellation Letter
[Today’s Date]
Attn: Cancellations Department
[Insurance Company Name]
[Insurance Company Address]
Re: Cancellation of [Life Insurance Policy #]:
To Whom It May Concern:
I regret to inform you that I, [Name of policyholder along with life insurance policy] have decided to terminate my life insurance coverage effective immediately.
The reason for my decision is based on losing my job and unable to pay premiums. Please, send me a written confirmation of the cancellation for my records at your earliest convenience.
Sincerely,
[Name of policyholder]
[Address]
Sample 2 - Life Insurance Cancellation Letter
DATE
Global Life Insurance
Cancellation Department
7634 Virginia Street
Columbia, MD 21097
Re: Cancellation of Policy Number: 675432
To Whom It May Concern:
I regret to inform you that I, [Name of policyholder along with life insurance policy] have decided to terminate my life insurance coverage effective immediately. The reason for my decision is based on finding a more comprehensive coverage for a lower cost.
Please, send me a written confirmation of the cancellation for my records at your earliest convenience.
Sincerely,
Pam Grier
231 Versailles Ave.
Oakland, CA 34567
Sample 3 – Life Insurance Cancellation Letter
Nancy Chicago
2345 Trowbridge Road
Lafayette, CA, 86709
XYZ Insurance Company
346 Pine Street
Philadelphia, PA, 19007
ATT: Cancellations
RE: Life Insurance Policy #345762
Sincerely,
Nancy Chicago
Here are some questions that people often ask about canceling a life insurance policy:
Does canceling life insurance hurt your credit?
Can I cancel my life insurance at any time?
Yes, in most cases you can cancel your life insurance policy at any time. However, the process for canceling a policy can vary depending on the terms of the policy and the insurance company.
Some policies may have a “free look” period during which you can cancel the policy and receive a full refund of any premiums you have paid. After the free look period has expired, you may still be able to cancel the policy, but you may not receive a refund of any premiums you have paid.
To cancel your life insurance policy, you will need to contact your insurance company and request a cancellation. You will likely need to sign a cancellation form and return it to the insurance company. The insurance company may also ask you to provide a reason for canceling the policy.
It’s important to carefully consider the consequences of canceling your life insurance policy before you do so. If you have a term life insurance policy, the policy will only provide coverage for a specific period of time, and if you cancel the policy before the end of that period, you will not be able to get the coverage back.
If you have a permanent life insurance policy, such as whole life or universal life, canceling the policy could result in the loss of any cash value that has built up in the policy.
Do I get any of my money back when I cancel my life insurance policy?
If you have a term life insurance policy, you will not receive any money back when you cancel the policy. Term life insurance provides coverage for a specific period of time, and the premiums you pay are used to cover the cost of the coverage during that time.
If you cancel a term policy before the end of the term, you will not receive a refund of your premiums.
If you have a permanent life insurance policy, such as whole life or universal life, you may be able to receive some of your money back when you cancel the policy.
These types of policies accumulate cash value over time, which you may be able to borrow against or withdraw. If you cancel a permanent policy, you may be able to receive the cash value of the policy as a refund.