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 Posted: Sun Jul 05, 2009 4:29 pm Post subject: Howto write a letter to surrender my life insurance policy f |
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| I have date of policy, Policy #, csah value at this time , Name and address of company. Would like to cash in within 30 days of receipt of letter |
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sbrin
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steven
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| Posted: Mon Jul 06, 2009 11:24 am Post subject: |
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| Don't write a letter. Call the company. They will tell you what is needed. Most likely, they will have a form that you need to fill out and sign. |
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InsuranceExpert
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| Posted: Mon Jul 06, 2009 11:28 am Post subject: |
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| Sbrin, you need to contact the customer care department to know the process to surrender the policy. But, why do want to surrender the policy? Isn't borrowing against the plan an option for you? |
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simon
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| Posted: Tue Jul 07, 2009 7:04 am Post subject: |
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Hi sbrin..
| Quote: | | Would like to cash in within 30 days of receipt of letter |
Did you go through your policy papers in this regard?
Check out the clauses and share with us if you come across anything regarding the cash out.
Steven |
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steven
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| Posted: Wed Jul 08, 2009 2:39 am Post subject: |
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| Quote: | | Don't write a letter. Call the company. They will tell you what is needed. Most likely, they will have a form that you need to fill out and sign. |
i agree on Insurance Expert, you should call them, so that all your questions will be answered and clarified. Writing a letter took too long. |
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choco
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| Posted: Wed Jul 08, 2009 6:09 am Post subject: |
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Hi Choco..
What InsuranceExpert has to say regarding filling out the form is understandable. But, I'd beg to differ with what you've mentioned regarding getting all queries resolved over the phone.
You may not always come across a person who's knowledgeable or would empathize with you. A majority of your questions may remain unresolved at times. In addition, you won't have any document that shows what they've promised to you during the conversation.
What do you have to say regarding that?
Steven |
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steven
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| Posted: Wed Jul 08, 2009 11:09 am Post subject: |
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Steven, nobody is talking about calling to cancel the policy. We're talking about calling to find out what specificially is needed to cancel the policy.
For instance, when one cancels a policy, they frequently have several options of what to do with the cash (have it sent to them, purchase extended term insurance, have a reduced paid up policy). Depending on what is being done, a different form may be needed. |
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InsuranceExpert
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| Posted: Wed Jul 08, 2009 11:41 pm Post subject: |
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i echo to what Insurance Expert says, he's absolutely correct.
Steven, yeah i also agree with you, that not at all times people your talking over the phone are knowledgeable, but not at all times also that all of them were less knowledgeable or something, I guess you do have a pretty bad experience talking to someone over the phone during your inquiries with stuff or something, i bet your basing it with your experience. |
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choco
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| Posted: Thu Jul 09, 2009 9:08 am Post subject: |
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| Quote: | | Steven, nobody is talking about calling to cancel the policy. |
Even I haven't mentioned "calling to cancel" anywhere I guess!
The only reason I forwarded that url is to show him the format of the letter, since he'd inquired about how to write the letter.
Steven |
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steven
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| Posted: Thu Jul 09, 2009 9:16 am Post subject: |
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Hi Choco..
| Quote: | | I guess you do have a pretty bad experience talking to someone over the phone during your inquiries with stuff or something, i bet your basing it with your experience. |
I have a mixed experience of talking to agents. I'd agree that some of them are quite knowledgeable, but what scares me is the fear that I'd end up sharing my problem who's confident but not knowledgeable. In that case it would be hard for you to decide whether you should follow the suggestions of that person or not.
Under such circumstances, you may not even know that you're actually picking up some thing that's not needed. Didn't you ever have such an experience in your own life?
Steven |
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steven
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| Posted: Thu Jul 09, 2009 10:39 am Post subject: |
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| In this case, it isn't a highly technical question that's being asked. Who is more apt to have the correct answer? Is it the insurance company or a bunch of strangers on the internet who don't even know which insurance company is being referenced? |
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InsuranceExpert
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| Posted: Fri Jul 10, 2009 12:25 am Post subject: |
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| Quote: | I have a mixed experience of talking to agents. I'd agree that some of them are quite knowledgeable, but what scares me is the fear that I'd end up sharing my problem who's confident but not knowledgeable. In that case it would be hard for you to decide whether you should follow the suggestions of that person or not.
Under such circumstances, you may not even know that you're actually picking up some thing that's not needed. Didn't you ever have such an experience in your own life? |
i got your point on that matter, and yeah even me i have same experience as yours but i always takes risk on everything, how would i know the answer if i don't take risk, how would i confront my fear if i don't take risk... you get my point?
just take your chances theirs no harm on it, if the result is bad then you learn from it, but if it is good then you gain some. |
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choco
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