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Termination of the policy due to nonpayment of the premium

An insurance termination letter is a termination notice given by an insurance company to its client. Specific reasons are mentioned by the company. Although it is traumatic for the person, it is equally a hassle for the company too, as it means a loss of a client.

Here is a sample insurance termination letter:

From:

General Insurance Pvt. Ltd.

Maple Street,

Toronto,

Canada

To:

Mr. Jack Sloan

5th Street,

Beachwood Park,

Toronto,

Canada

22nd June, 2010

Ref: Termination of the policy due to nonpayment of the premium

Dear Mr. Sloan,

It is with regret that I wish to inform you that your policy # 10298, taken in the year 2006 has been terminated.

We had sent repeated requests to you to deposit your monthly premiums on time. Kindly refer to our letters sent on 2nd February, 4th March, 4th April and 6th May. These letters were ignored by you.

We had no communication from you since January. Since it is our company’s policy to terminate the policies of such persons who do not pay the premiums for more than four months, we are informing you of the same.

Thank You,

Yours Sincerely,

Ruth Mathews

General Insurance Pvt. Ltd.

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