Information contained on this site does not and is not intended to constitute an advertisement, solicitation or offer for sale in any jurisdiction, outside the United States of America, where such use would be prohibited or otherwise regulated. Life Insurance Companies differ in. Begin the opening paragraph by requesting the cancellation of the life insurance policy. What Information to Include Your should be short and to the point. I also request written confirmation of this cancellation, along with a refund for unused premiums, within 30 days from the receipt of this letter.
Sample Letter For surrendering a policy Dear Sir, Ref: Life Insurance Policy No. Hence, I wish to discontinue my policy. You had made a very wise decision in providing for your old age, but forgoing this provision when you are nearing your retirement is not a step in the right direction. A subject line will go on the next line with the account number. I understand that surrendering this policy means that it cannot be reinstated later on, and the death benefit, which goes along with it, also gets terminated.
Dear Williams, I am writing this letter to bring to your notice that I wish to cancel my life insurance policy with a policy number 6772892, in the name of George Watson, with effect from 31 st of August 2012. I am also requesting written correspondence of the cancellation and the refund of any premiums. Inquire whether there is any balance owed or refund due on the policy based on the cancellation date you are requesting. Surrender Process at Exide Life Insurance Surrender means discontinuing the before maturity date. Make two copies of the cancellation letter. All insurance rates, products, and services are presented without warranty and guarantee.
A cancellation letter is important for cancelling insurances. The cash value of the policy should also be sent with any returned premium. This is especially true if you have moved to a different neighborhood. There may be instructions regarding how to cancel your policy — how many days notice you need to provide and to whom the letter should be addressed. The surrender of Policy causes a loss to the insured.
Insurance cancellation letter - How to write a termination letter? Please consider it as most urgent. Conclusion Canceling a car insurance policy is a relatively quick and easy process. Verify Cancellation Terms Before submitting your cancellation request, make sure that what you are asking is consistent with the terms of your insurance policy. Guaranteed Surrender Value: It is generally calculated as a % of the total premiums paid excluding first year premium and extra premium, if any. You may find details about how to cancel the policy, the notice you should provide and to whom the letter should be written. The insurance company would not be held responsible for a document they did not receive.
Yours faithfully Hope this helps. State that all charges for the policy must be terminated. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Thanking you, Yours faithfully, your Name. Please consult with your tax and legal advisors regarding your personal circumstances. Please stop all debits or charges for premium payments. Furnish your taxpayer identification number whether or not you elect income tax withholding.
The taxpayer identification number for most individuals is his or her Social Security Number. This web page is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. If you elect to have no tax withholding from your taxable distribution, or if you do not have enough Federal Income Tax withheld, you may be responsible for payment of estimated tax. You may discover lower insurance price quotes for different areas. A of this Policy Document. I can produce receipts of all premium paid during the tenure of this policy. Insurance companies are often large operations with many departments.
I hope you will consider this request and put it into effect as soon as possible. Please treat the matter as urgent and process it at the earliest. This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. I am also requesting written confirmation of the cancellation and the return of any premiums. I shall be thankful if you kindly write to me the present surrender value of the policy and the procedure to release the said amount. I shall be grateful, if you kindly let me know the present surrender value of my policy. The cash value of the policy should also be sent with any returned premium.
Review the policy for major cash surrender values and determine. Special surrender value: Exide Life Insurance Company may declare special surrender value for policies from time to time basis prevailing market conditions. Apply the value of my policy to provide Extended Term Insurance. Make a copy for your files. This may be a requirement in some states. In case you are unable to visit personally, please send your immediate family members father, husband, son, etc. Kindly visit your nearest Exide Life Insurance Branch Office.