Saturday, December 15, 2012

Sample of Life Insurance Cancellation Letter

If you and your spouse are not happy with your existing life insurance, and would like to cancel, terminate, and stop paying premiums to the Life Insurance Company, you must write a letter of cancellation. Very important thing to do before sending or faxing this cancellation letter, is to make sure you have another or new life insurance policy so that you and your beneficiary/beneficiaries have life insurance coverage and benefits. The cancellation letter should contain the following information:

Information required for your Life Insurance Cancellation Letter:

1. Date of the letter
2. Name of the Insurance Company
3. Address of the Insurance Company
4. Telephone and Fax numbers of the Insurance Company
5. Policy Number of Life Insurance
6. Name of Insured person(s)
7. Effective date
8. Amount of Insurance
9. Insurance coverage and benefits
10. Date when letter is signed
11. Signature of owners
12. Address of owners
13. Telephone (contact) numbers of owner(s)

Example of Life Insurance Cancellation Letter:

02 February 2012

ABC Life Assurance Company
123 Insular Street, Toronto, ON, M1A 2B3
Tel. no.: 416-123-4567
Fax no.: 1-800-987-6543

The undersigned owners of Policy Number 000123456  for the Life Insured named
John Smith and Jean Smith hereby request ABC Life Assurance Company
to cancel our policy effective today 02 February 2012.

Amount of Insurance: $100,000
Insurance Coverage and Benefits: Joint - First to Die - Yearly Renewable Term (YRT)

Date:  ___________________                                       
Signature: ________________                                       
Name of Insured: JOHN SMITH                                      

Date:  ___________________                                       
Signature: ________________                                       
Name of Insured:  JEAN SMITH                                      

Address of Owners:
123-4567 Blessed St.
Toronto, Ontario, M9A 8Z7

Telephone numbers:
416-123-4567 (home)
416-987-6543 (cell phone)

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