Individuals who wish to cancel an insurance policy will need to do so in writing. The letter will then be mailed to the insurance company via the postal service. This is the best method to contact health insurance companies and effectively communicate intentions.
A letter also prevents policy holders from having to talk directly to the representative of a company. Writing a health insurance cancellation letter can easily be done by following a set of steps.
Review Policy Information
Canceling a health insurance policy can be done at any time. Health insurance policies do not have any type of restriction that limits rights to cancel a policy. Review the information included with the policy to ensure the proper cancellation procedure is used. The next step is to prepare a rough draft of the health insurance cancellation letter.
Make sure to send any payments that are due if the letter is not ready to send before the monthly premium due date. The health insurance company will refund any premium that was overpaid. If the policy has a cash value, then request that the amount be paid by check when sending any premium refunds.
Include a salutation at the end of the letter. This will ensure that there is no question about the intent to cancel the policy. Include the word “Sincerely” or use “Best Regards” for the salutation. This is the final part of a health insurance cancellation letter. Make sure to sign the letter under the salutation.
The next step is to create a final letter from the rough draft. This can be done by sending the letter over to a printer or by typing a new letter from the paper. Make two copies of the cancellation letter. Make sure to sign one copy and send it to the insurance company. The second letter is for personal records.
Prepare Rough Draft
A rough draft can be typed in a text editor on a computer or a regular piece of paper. The first thing to state on the rough draft is the date. This needs to placed in the upper left corner of the document.
Write or type the name on the policy and their address below the date. Below the address is the name of the insurer. Include the contact person if addressing an agent or company representative. A subject line will go on the next line with the account number.
Begin the opening paragraph by requesting the cancellation of the health insurance policy. Make sure to add a sentence stating that all charges or debits for payment be stopped. The next sentence should state the date when the policy is to be effectively canceled.
Sample 1 – Health Insurance Cancellation Letter
May 25, 2019
3234 12th Street
Philadelphia, PA, 19114
XYZ Health Insurance Company
435 Health Insurance Circle
Atlanta, GA, 02334
RE: Health Insurance Policy #23455523
Please consider this letter as a formal request to cancel the referenced health insurance policy. Please stop all debits or charges for premium payments. The effective date of policy cancellation is 05/31/2019.
Please send a written confirmation letter to me within 30 days after the cancellation takes effect. Please refund any and all unused portion of my premium.
I look forward to hearing from you.
Sample 2 – Health Insurance Cancellation Letter
May 25, 2019
ABC Health Insurance
ATT: Cancellations Department
143 Health Insurance Way
Baltimore, MD 21060
Re: Cancellation of Policy #: 1233456
To Whom It May Concern:
I regret to inform you that I, Thomas Peters (#133456), have decided to terminate my health 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.
412 Purple Circle
Columbia, MD, 08025