Insurance Cancellation Letter: Insurance policies keep you safe in case of any untoward incident. It is a kind of legal policy between an insurer and the insured wherein the insurer has to pay an amount to the insured when the insured claims for it. This amount is paid by the insurer when they gauge the damages of the insured. Being a legal policy, it can also be taken to court. Now, the insured person has to pay a premium amount which keeps his/her insurance alive. This insurance can also be canceled, and this choice of the insured person can be conveyed to an insurer through Letter of Cancellation. He can stop paying the insurance money and put a full stop on the insurance policy.
Before sending in an Insurance Letter for Cancellation, the insured person got to check with the insurer whether they have an insurance cancellation policy or not. They should go through the terms of cancellations written in the contract and should rightfully abide by that. Usually, an insurer doesn’t have policies of non-cancellation of insurance.
Insurance Cancellation Letter Format
It is an important document that is needed as and when you want to effect a cancellation of your insurance.
How to write Insurance Cancellation Letter?
Here are some tips regarding writing a Cancellation for Insurance.
- First and foremost, you should properly mention the policy details so that the details could be properly tracked down.
- Know the cancellation policy details to follow the rules and properly draft the Insurance Letter.
- You should mention a proper valid reason as to why you would like to discontinue the insurance coverage by stopping the payment of premiums. You should mention that the charges regarding the payments be stopped.
Let’s look at the format of this letter.
[Policy Holder Details]
[Insurance Company Details]
[Share the policy details and give proper information as to why you want to cancel the policy and state the other details. Let them know what the insurance was about.
Keep the body between 2-3 paragraphs.]
[Policy Holder’s Details]
Sample Insurance Policy Cancellation Letter Examples
Here are samples of these Letters which you can refer to anytime you are sending one.