Insurance are highly recommended products to be well protected, however, they are not mandatory. In the event that you wish to cancel your policy, either because you have found another better product or you no longer want it, most insurance companies will ask you to send a letter notifying your desire not to renew or cancel this product. From Getlife we help you with all the cancellation procedures. Here we offer you a sample letter that you can use for any type of insurance and insurer.
How to write a letter to cancel insurance?
When canceling insurance what you want is to break that contractual relationship that a person has with an insurance company about a specific insurance product. The insured can cancel his insurance and terminate this contract if he wishes, since these products are not mandatory. However, generally, it is necessary to follow a specific procedure, following the law and respecting the established deadlines. One of the requirements established to request the cancellation of a contract by the insured is to notify that they do not want to renew the insurance. The best way to do this is to send the insurance company a withdrawal letter, notifying you of your desire to void the contract and cancel the policy.
When can I cancel a policy?
The reasons for canceling insurance can be different. If you no longer need to be insured, if you realize that your policy does not cover all your needs, you find or offer a better product in another company or your company changes the conditions. As an insured, you have the right to cancel your product for any reason. If you want to change your life insurance to Getlife, we will help you throughout the process. Just by giving us some information, we cancel your old insurance and contract your new product instantly.
In the event that you have an annual renewable product, you can cancel the insurance:
- In the first 30 days of contract.
- After the first month, you must wait a year to cancel the product, sending the cancellation letter one month before the renewal of the contract.
- If the insurance company has unilaterally changed the price of the insurance premium.
- In the event that the contracted conditions and coverage have been unilaterally modified by the insurance company.
Insurance contracts are usually renewed annually, and the company must notify the insured of these changes two months in advance. In this way, if you do not agree with the changes, either in the price or in the conditions, you can notify the company and request cancellation.
How to write a letter to cancel insurance?
Currently, you can draft a letter to send to your insurer yourself. In it you will need to express your desire to cancel the product. We also recommend that you mention the completion of the collection of premiums. It is not necessary to use a specific model, although it will be mandatory that it contains basic information and data.
Mandatory data to notify your insurer
The necessary data that must always be reflect in a letter to cancel your insurance are:
- Recipient of the letter: In this case, the insurance company with which you have your insurance and to which you want to strengthen your desire to cancel it.
- Data of the policy holder/insured person: Personal data such as name, surname, DNI or address.
- Policy information: policy number, type of insurance, expiration date.
- Sending date: It is essential that this date is well indicate, so that it can be verify that it was send within the establish period.
How to send the letter to request the cancellation of your insurance
When sending the letter to the insurer, with all the pertinent data, it will be essential to attach a photocopy of the DNI. You must send it to the headquarters of the office with acknowledgment of receipt, so that you can be notify when it has been receive. It must be take into account that, in many cases, it is possible to notify the desire to cancel through burofax, by letter, mail or even through a form on the company’s website. Although care must be take, because the company can claim that the request did not arrive. The letter is the safest and most formal method.
