Cancel term insurance policy

How to cancel your term life insurance policy 1. Stop paying premiums. If you don’t pay your premium within the grace period — the 30-31 days after your premium 2. Write a letter. Provide written notice to your insurer that you’d like to cancel your policy. Some policies detail in 3. Call your

You can also contact the insurance provider or your agent to fill out a cancellation or surrender form to cancel the policy. As we mentioned above, if you stop making payments to your insurer, your policy will lapse before it is cancelled.

If you want to cancel your policy after the cooling-off period you should check your insurance policy. Most insurers will give you a refund if you have not made any claims during the policy year but you will usually have to pay administration fees.