Insurance Cancellation Letter: In the case of any kind of untoward incident that may happen, insurance policies keep everyone safe. Here, an insurance policy is referred to as a kind of legal policy between an insurer and the insured. Hence, the insurer must pay an amount to the insured whenever the insured claims for it.
The amount that is being paid by the insurer is when the insurer has measured the damages caused to the insured. Since the policy is a legal one, the matter can be taken to court for settlement of any claim. While registering for an insurance policy, the insured person must pay a premium amount, which maintains his/her insurance policy alive. However, this insurance policy can be canceled, and the insured person's decision can be conveyed to the insurer through a Letter of Cancellation. Consequently, the insured person can stop paying the insurance money, and put an end by canceling the insurance policy. If you want to check template of Weekly Planner, visit here Weekly Planner Template.
Before sending an Insurance Letter of Cancellation, the insured person needs to verify with the insurer whether they have an insurance policy cancellation or not. All that the insured person needs to do is that he/she should examine the terms of cancellation that are specified in the contract, and rightfully abide by that. Normally, it is found that an insurer does not have policies of non-cancellation of insurance. Searching for the right graph paper, click here Circular Graph Paper Template.
Cancellation Letter For Insurance Format
A letter of insurance cancellation is an important document that is required at a time wherein the insured intends to cancel his/her insurance.
How to write Insurance Cancellation Letter?
Some of the tips that can be used while writing a cancellation letter of insurance are given below.
- The first and foremost tip is that the user should mention properly the details of the insurance policy
- These details will help the insurer to track down the insurance document.
- Given that the cancellation policy details are known, the insured can follow the rules properly, and thereafter draft the Insurance Letter
- The insured person should mention a valid reason as to why he/she intends to discontinue the coverage of insurance by discontinuing the premium payments
- The insured person should mention that the charges concerning the payments be stopped
- The format of Letter of Retirement:- Retirement Letter
The Format of the Cancellation Letter for Insurance
The details of Policy Holder must be written
Next comes the date on which the policy is taken
The insurance company details must be written
Next comes the Salutation like Dear/Madam,
In the next paragraph, the insured should share the policy details and provide the correct information as to why he/she intends to cancel the policy, and state other details as well. Further, the insured should let the insurer know what the insurance was about. Here, while writing the insured should keep the body of the letter between 2-3 paragraphs.
Now ‘Thank You can be written in the next line.
Salutations like ‘Yours Sincerely’ are to be mentioned.
In the last line, policy holder’s details have to be given.
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Sample Insurance Policy Cancellation Letter Examples
Given below are some samples of insurance policy cancellation letter examples, which can be referred to at any time by individuals before sending one.
Auto/Car Insurance Cancellation Letter
3715 Jim Park
994 Audrey Avenue
Subject: Auto/Car Insurance Cancellation Letter
Dear David Cranston,
John Washington is writing this letter to David Cranston about his Motor Vehicle Insurance that has the reference ID of 89248765. John Washington further informs David Cranston that he would like David Cranston to cancel the insurance policy referred above. John Washington says that he has stopped the payment of insurance premium with immediate effect.
John Washington requests David Cranston to send a confirmation for the cancellation of the insurance within thirty days, and requests Cranston to process the refund of the unused premium to John Washington.
(Signature of John Washington)
Cancellation Letter for Health Insurance
House number 88/696 Green Park,
Thiensville Maryland 6876
House no.36, Tom Park
Watervliet Oklahoma 4542
Subject: Health Insurance Cancellation Letter
Dear Kevin George,
William Bentley informs Kevin George that he had taken well-known Health Insurance Policy offered by Kevin George, that has the reference ID of 2845153. William Bentley informs Kevin George that he would like to bring to the kind notice of Kevin George that he wants to cancel the above referred policy with immediate effect. William Bentley further says that the premium payment of the insurance is to be stopped, immediately.
William Bentley says that it is unlikely for Bentley to pay any further amount of premium owing to uncertainties regarding the job of Bentley. Hence, Bentley would request Kevin George to send an immediate confirmation regarding this cancellation within thirty days of issuing this letter, and requests to refund of the unused premium.
(Signature of William Bentley)
Cancellation Letter for Home Insurance
88/989 Kings Avenue
House no. BZ 5073
Santa Barbara MT 8698
Subject: Cancellation Letter
Dear John Schweiger,
Michal Jones informs John Schweiger that he had purchased the Home Insurance Policy offered by John Schweiger, and the policy has the reference ID as 1454884. This insurance was taken by Michal Jones when he bought his Vijaya Gardens Flat in Azad Nagar. But, Michal Jones requests John Schweiger to cancel the home insurance as Mr. Jones will be moving to Kolkata in 2 months.
All future payments of insurance premiums will be suspended and hence, Michael Jones would like to receive a confirmation on this matter within two months of sending this letter. Further, Mr. Jones also requests John Schweiger to refund the unused premium.
(Signature of Michal Jones)
Cancellation Letter for Life Insurance
440-985 James Avenue
Duluth Washington 95617
998 Fact Avenue
Gardens Texas 89756
Subject: Life Insurance Cancellation Letter
Allen Broadly informs George that Allen is the holder of Jeevan Bhima Policy, the reference ID of which is 25576248. Accordingly, Allen Broadly is writing this letter to George that Allen would like to cancel this policy from immediate effect, and stop all the insurance premium payments that are being due.
Allen Broadly requests George to kindly send a confirmation letter of the above-mentioned cancellation within thirty days of Allen Broadly sending this letter, and also regarding the refund amount due under this policy.
(Signature of Allen Broadly
Homeowners Insurance Cancellation Letter
244-473 Heritage Park
Duluth Washington 4658
1867 Facile Park
Bell Gardens Texas 28437
Subject: Homeowners Insurance Cancellation Letter
Dear Henry Cavin,
John Affleck informs Henry Cavin through this letter that John is the holder of a Homeowners License, the reference ID of which is 66255865. John Affleck requests Henry Cavin for the cancellation of the above referred policy with immediate effect by writing this letter. All the insurance premiums made against this policy will be stopped with immediate effect.
John Affleck is requesting Henry Cavin to kindly send a letter of confirmation of the aforesaid cancellation within thirty days and requests to process the refund of the amount due under this policy.
(Signature of John Affleck)
Insurance Policy Cancellation Letter
H.no. Wilmington 68875
8865-998 Nick Street
Subject: Insurance Policy Cancellation Letter
Dear Christoph Williams,
Dennis Moura informs Christopher Williams that he is the holder of Prateek Bema Policy that has the reference ID number, 25756248, offered by Christopher Williams. This letter is being written by Dennis Moura to Christopher Williams to effect the immediate cancellation of the referred insurance. The insurance is very attractive with numerous benefits, and Dennis Moura is sure that the policy would help him at its maturity period, but Dennis Moura intends to mention that owing to dwindling financial backup, it is becoming a problem for Dennis Moura to regulate the payment of the insurance premium.
Therefore, Dennis Moura requests Christopher Williams to send a confirmation letter of the same within 30 days of writing this letter. Dennis Moura further requests Christopher Williams to refund the unused premium amount within a certain period.
(Signature of Dennis Moura)
Progressive Insurance Cancellation Letter
2236 George Street
Turkey RI 89985
Apartment no 34, Incident St.
Corpus Christi 55566
Subject: Progressive Insurance Cancellation Letter
Dear Jim Murphy,
Joseph Miller writes to Jim Murphy that Miller is the holder of esteemed Progressive Insurance, the reference ID of which is 25756248. This letter is being written by Joseph Miller to Jim Murphy to act for the immediate cancellation of the referred insurance policy. This insurance offers various benefits and is very attractively crafted for youngsters with numerous benefits.
Accordingly, Joseph Miller says that it would have helped him in its maturity period, but due to his bad financial back-up, it is becoming a problem for Joseph Miller to regulate the payment of insurance premium. Joseph Miller says that he is willing to continue with the premium payment of the said insurance, but the various circumstances that he is facing is making it difficult for him to continue.
Hence, Joseph Miller requests Jim Murphy to process the confirmation letter for the same and send it to Miller within 30 days of writing this letter. The refund process of the unused premium amount should also be carried out, the refund of the amount to be made within a certain period.
Employer Health Insurance Cancellation Letter Sample
Paradise Symphony Cummins Road
South Carolina 8898
24-898 Cras Avenue
Subject: Employer Health Insurance Cancellation Letter
Dear Gary Mathews
Thomas Weaving is writing this letter to Gary Mathews about the Employee Health Insurance Policy that has the reference ID of 25756248, which is held by the company in which Thomas Weaving is employed. Thomas Weaving is writing this letter to Gary Mathews on behalf of the company, to process the immediate cancellation of the referred insurance.
The terms and conditions of the insurance are attractive and would have benefited the company’s employees in the days to come when it would reach its maturity, but the dwindling turnover and the profit margin of the Thomas Weaving’s company is making it hard to maintain such insurance. However, the company in which Thomas Weaving is working is looking at other means of the welfare of its esteemed employees.
Thomas Weaving is writing this letter to Gary Mathews to request Mathews to kindly send a confirmation letter for the same within 30 days of writing of this letter. The company is looking forward to this as it must draft a formal notice to inform its employees. Thomas Weaving requests Gary Mathews that the refund process of the unused premium amount should also be started within a certain period.
(Signature of Thomas Weaving)