How To Cancel Life Insurance Policy At Primerica?

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   Jim Winkler

   CEO/Owner, Winkler Financial Group, Houston, Texas

   Great question! The best way to cancel it is to call them, ask what (if any ) cash value there is in the policy, and ask for a surrender form. That will allow you to draw out the value in it (minus whatever unpaid premium or fees there may be) and end your coverage. If there is no value in it, like in a Term policy, you can either write, call and cancel, or just stop paying, and your coverage will end. If you are set up on a monthly bank draw with them, you need to ensure that the processed is stopped, or they will continue to ding you for the premium amount. Please be sure that you have an active policy in place first, and that the agent had explained very clearly the benefits and risks of making this move. I hate to say it, but there are agents out there who will convince you that you need to change, not because it is best for you, but because their rent is due. I'd be happy to walk you through this decision in more detail if you would like, please feel free to contact me. Thank you for asking!

   Answered on May 8, 2014

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