by wennie_kph » Wed May 16, 2012 07:40 am
i am a member of a life insurance for almost 3 years but now i am experiencing a financial problem and need to get my money back. is this possible?what should be the first thing to do inorder to cancell my insurance.
Posted: Wed May 16, 2012 10:06 am Post Subject:
and need to get my money back
You may cancel your insurance by writing a letter of cancellation to the insurance company,
Do not expect to "get [your] money back". You may only have a very small amount of cash coming back to you.
Posted: Wed May 16, 2012 07:07 pm Post Subject:
You may want to consult your agent about this matter. Read and review the contract you had with your insurance company and let the agent explain if its possible you can end your insurance policy. Maxherr is right, "do not expect to get your money back".
Posted: Thu May 17, 2012 11:29 am Post Subject:
let the agent explain if its possible you can end your insurance policy
This is a waste of time. No one can be forced to keep a life insurance policy they do not want.
If a person wants to cancel their life insurance, they can simply write a letter to the insurance company telling them to cancel the policy. The value of an agent is explaining one's options when they are considering ending a policy -- cash surrender, extended term, or reduced paid up -- are the most common options.
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