Sample letter of a formal request for cancellation of an insurance policy

In order to secure the future of yourself and your loved ones, it is necessary to buy an insurance policy. It gives you the mental satisfaction that in difficult times at least you have some financial support to fall back to. However, there may be times when you have to cancel a policy. Maybe, you have run out of cash to pay for the policy or maybe have found a better one to invest in or maybe you have some urgent requirement of fund.  Whatever the reason, cancelling your current insurance policy may be the only viable option that you have.

It is important to know that generally you have the right to cancel an insurance policy anytime provided sufficient notice has been given to the Company. It is necessary to inform the concerned department of the Insurance Company about the cancellation in writing. You may communicate with the Company for the name and address of the concerned person dealing with the same. It is advisable to go through the policy and review the information provided regarding termination of the policy.

However, sometimes the cancellation may require you to pay some cancellation charge. It is handy to keep a copy of the letter for future correspondence in case of the unfortunate event of the company not processing your cancellation letter. Documentation helps in avoiding unforeseen disputes between customer and insurer. This is a simple request letter for cancellation of an insurance policy. The article addresses the question of properly presenting the request to the concerned person.



To
The Concerned Person
Cancellation Department
Insurance Company Name
Insurance Company Address

Subject: Cancellation of Insurance Policy

Sir/Madam,
                            I would like to request you to cancel the below mentioned Insurance policy of your Insurance company with effect from 25th of this month. Please cancel and return the premium paid till now and stop all the charges concerning the premium. I would request you to provide me with a written confirmation letter within 30 days about cancellation of the same.

Insurance policy Number:
Policy Opening Date:
Policy period:
       
                               In case, the Company requires any other clarification, I can be contacted at [mobile number] or by email [email address].Waiting for an early reply.

                               This is for your kind information and necessary action.


                                                                                                 Yours faithfully,

                                                                                                  Your name
                                                                                                  Your address
                                                                                                  Your Contact No.

Date:
Place: