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Nebraska Sample Letter for Pending Cancellation of Life Insurance Policy

State:
Multi-State
Control #:
US-0448LR
Format:
Word; 
Rich Text
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Description

Sample Letter for Pending Cancellation of Life Insurance Policy

[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Insurance Company Name] [Insurance Company Address] [City, State, ZIP Code] Subject: Pending Cancellation of Life Insurance Policy — Request for Reconsideration Dear [Insurance Company Name], I am writing to you regarding the pending cancellation of my life insurance policy with policy number [Policy Number], effective [Cancellation Date]. I received your letter dated [Date of Insurance Company's Letter] stating that my policy is at risk of cancellation due to non-payment of premiums. Firstly, I would like to express my utmost concern about this matter. As a long-term policyholder with [Insurance Company Name], I have faithfully paid my premiums on time for [Number of Years] years. However, due to an unfortunate financial circumstance, I experienced a brief delay in disbursing my premium payment for the policy period commencing [Start Date] to [End Date]. I understand and acknowledge the importance of timely payments to keep the policy in force. However, I kindly request you to reconsider the cancellation decision, as paying the outstanding premium is my highest priority. I highly value the financial protection and peace of mind provided by this life insurance policy, especially for my family's well-being in the event of an unforeseen tragedy. Please find enclosed a check in the amount of [Total Amount] as payment towards the outstanding premium. Rest assured, I have taken the necessary steps to ensure future payments are made promptly and consistently, to avoid any further interruptions. I kindly request you to review my payment and take appropriate action to reinstate my policy. If any additional documentation or information is required, please do not hesitate to contact me at the above-mentioned contact details. I genuinely appreciate your understanding and cooperation in this matter. My life insurance policy holds immense value to me, and I eagerly anticipate your favorable response. Thank you for your prompt attention to this matter. Yours sincerely, [Your Name]

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FAQ

Canceling your term policy couldn't be easier: just stop paying your premium and write a letter or call your insurer to let them know you are canceling the policy. Check the website of your insurer, too there may be a form there you can fill out to terminate your policy.

I hold an insurance policy in your company. Respectfully, I would like to bring into your kind concern that my policy number is (Policy Number) and due to (Reason Financial problem/ Requirement of funds/any other), I request you to kindly cancel my policy.

I hold an insurance policy in your company. Respectfully, I would like to bring into your kind concern that my policy number is (Policy Number) and due to (Reason Financial problem/ Requirement of funds/any other), I request you to kindly cancel my policy.

Make sure you include the date, the company's name and contact information, and your account number if relevant. Be polite but firm when you tell the company to cancel your account. Remember that there is a typical 30-day notice period before a cancellation is put into effect.

A Cancellation of Insurance Policy Letter should contain the following information:Write down the name and address of the insurance company.Specify the current date.Announce your request to cancel the policy mentioned above.Request the return of unused premiums or portions.More items...

To cancel the policy offline, one can do it through their advisor or visit the nearest insurance company branch. A cancellation request will need to be submitted in written format.

Dear Sir, Please accept this letter as a formal request for canceling my life insurance policy, (Policy number), with immediate effect. I request you to stop all charges and debits as well related to the payments. (Describe your actual problems and situations).

Re: Policy Number:# Cancellation. Dear Cancellation Department, I am sending you this written notice to request cancellation of my insurance policy effective (date you plan to cancel). I would appreciate you sending me written confirmation within 30 days that the cancellation has been put into effect.

Dear Sir or Madam, Please allow this letter to constitute my formal demand for cancellation of the above-captioned policy. This cancellation will be effective as of date. Please immediately return any unused premium to me at my address listed below.

More info

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Nebraska Sample Letter for Pending Cancellation of Life Insurance Policy