Are you thinking of canceling life insurance? Then, please read this article to give you information on what to do and what other alternatives you have.
Interrupting or not disturbing life insurance?
Do I really have to cancel insurance? In the beginning, you always have to ask this question. It is simple. It’s harder to be able to answer it properly. But still true, twice measure and once cut.
What is the reason for the cancellation of insurance? Doesn’t this allow me a budget? Does insurance seem to me to be disadvantageous? Am I badly insured and I pay a lot?
Being insured is important – but being insured for the right amounts, important insurance risks and paying for reasonable insurance premiums. I always recommend asking the opinion of an independent expert.
What if you are determined to cancel your life insurance?
First, find out how to cancel your insurance. This is covered by the Civil Code and some things also govern the insurance conditions of the insurance company. More about this topic in the article “How can you cancel your life insurance?”
If you have a reserve insurance ( investment , capital), you can ask for a quantification of the surrender value . The insurance company will send it to your correspondence address. You will find here information on how much your insurance company would pay you when you cancel your insurance. It can help you to make a decision, but be careful … it may upset you. You can skip this step if you want to save time or have risk or accident insurance .
The final step is to apply for the cancellation of life insurance (notice). It is necessary to deliver it to the insurance company in writing. I always recommend sending a request by registered mail or submitting it directly to the insurance office. Remember the legal deadlines for insurance termination.
What are your options for keeping insurance?
Modification of existing insurance
You may not have to interfere with the insurance at all. All you have to do is set up and adjust your existing insurance for your current needs. With possible insurance adjustments, you can get better coverage for less money. In some cases it is possible to remove insignificant insurances and increase insurances of more important insurances while maintaining the same payment.
Paid insurance status
The insurance contracts payback means that you no longer pay for the insurance and you are still insured. The insurance company charges fees for insurance coverage from the capital value of the insurance. This option is not offered by all insurance companies and can only be applied to reserve insurance where the capital value arises. However, this is not always advantageous, only in some cases.
Are you interested in how you can set up life insurance and pay as little as possible? If you want to use the consultation, fill in the form below the article or call me directly.