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A life insurance policy can be cancelled at any time. However, you should consult an experienced broker or financial planner to understand any tax ramifications (or other issues).
Remember...before you cancel...consider the consequences. If you are uninsurable, it may not be a wise decision.
But...back to the policy...Simply contact the insurer or the agent who sold you the policy. They can easily surrender the contract. Make sure it is a full-time agent.
The only reason you should consider canceling a life insurance policy is the coverage for your family, business partners or charities no longer are exposed to economic loss if you were to die. If you have no one that would suffer financially at your demise and you don’t need nor desire to make a difference with your children, grandchildren or charities, the send a certified letter terminating or surrendering your policy to the life insurance company. Be advised that you are surrendering cover and with permanent polices you may also have a taxable event.
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Remember...before you cancel...consider the consequences. If you are uninsurable, it may not be a wise decision.
But...back to the policy...Simply contact the insurer or the agent who sold you the policy. They can easily surrender the contract. Make sure it is a full-time agent.