Can I Cancel Life Insurance?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    You can typically cancel a life insurance policy at any time that you wish. Depending on the type of policy the carrier may refund the cash value of the policy. Read your policy completely to understand the coverage provided and the consiquences of canceling your policy or contact your local agent to discuss it with them.
    Answered on July 5, 2013
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    The insurance company will allow you to cancel your policy at any time. If the policy is assigned a lender might interfere with cancelling coverage. The coverage can be canceled by a telephone call to the company or agent. If there is cash value in the policy it will be sent to the owner of the policy. After cancelling the policy there will not be any coverage.
    Answered on September 11, 2014
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