Individuals who want to terminate their insurance policy are required to submit a letter for the same. This is one of the best and an easier method to inform the Insurance Termination Letter company about the termination. Also if the customer fails to pay the premium or other payments on time the insurance company may terminate the policy of the customer.
Insurance Termination Letter Sample
Usually a insurance policy can e cancelled or terminated at any point of time. There are generally no restrictions on the termination. But to be on the safer side you should review the policy of the insurance company to follow the right procedure.
It is very important to make any payments that are due before sending the letter. Also make sure to ask for the premium that is overpaid.
Insurance cancellation letter to bank
There are certain tips that should be kept in mind before writing a termination letter. These are:
The tone if the letter should be formal as it is an official letter.
The writer should avoid mentioning any personal details in the letter, details regarding the letter should only be mentioned.
The reason because of which you are terminating the policy should be explained clearly in the letter.
You should be very polite in the letter and should make sure not to degrade the reader in any manner.
Before sending the letter proof read it to avoid any grammatical or spelling mistakes.
Insurance Cancellation Letter Template
The format of the letter should be of a format letter. Start the letter by writing your address and then date followed by the receivers address and the subject .Then mention the salutation.
After this the most important part of the letter that is the content or the body of the letter is to be written you end the letter by including the word “Sincerely” or any other word which you feel is appropriate to use. At the last mention your name and do not forget to sign the letter.
We provide you with the sample insurance termination letter that will give you the right guidance.
Insurance flyer templates free
This letter is written by the company, terminating the policy of a customer due to his inability to pay the premium.
Name of Sender Name of Sender’s Company Title of Sender Address of Company City, State, Pin Code
Insurance agent flyer template
Name of Manager Name of Company Address of Company City, State, and Pin Code
Subject: Regarding the termination of the policy (mention your policy number)
This is written with reference to the notices sent to you by our manager on 23rd march 2018 about the timely payment of the premiums of the policy that you have opted for and your inability in doing the same.
Keeping in mind the interests of our company, we have come to the conclusion terminating your policy under Clause 2 of our contract within two months starting from now. Insurance Termination Letter All the payments that are due will be cleared as soon as possible. We hope that you will reply keeping in mind the urgency of the matter.