there are many different reasons why you might need to know how to cancel america financial life & life annuity insurance.
Whether you want to find lower rates or just don’t want life insurance anymore, the cancellation process is pretty simple.
Reading: How to cancel americo life insurance
We’ll show you the steps to cancel america life insurance and even help you shop for new coverage.
Before you cancel, read our American life insurance review to learn more about the company. Reviews, rates, and ratings of America’s financial life insurance and annuity companies are included.
Keep reading to find out how to cancel financial life and annual life insurance from america. enter your zip code to compare life insurance rates from multiple companies near you for free.
what are the steps to cancel america financial life & annual life insurance?
No matter why you want to cancel america life insurance, the process is the same. america allows you to cancel your coverage for any reason, at any time.
There are some differences between canceling term life insurance and permanent life insurance. however, these are the general steps to follow regardless of the type of coverage:
- Step 1: Talk to customer service to start the cancellation process. The phone number for america financial’s life insurance and annuity company is (800) 231-0801.
- Step 2: Provide your personal information and policy number.
- Step 3: Explain that you want to cancel your life insurance. if you cancel because of price, they may be able to offer you lower rates to keep you as a customer.
- Step 4: Request a written confirmation of your cancellation. you will need to submit a policy cancellation request.
- step 5: follow up. after the cancellation date, check to make sure your cancellation is complete and ask about any refunds you may owe.
The cancellation process with america is quite simple. however, you may be charged fees and penalties for canceling your coverage.
Be sure to ask about this when you speak to customer service so you won’t be surprised.
what should you consider before canceling america financial life & annual life insurance?
While america allows you to cancel your coverage whenever you want, there may be fees associated with that. america offers term and permanent life insurance options.
Term life insurance is easy to cancel. term coverage is the cheapest form of life insurance and has no cash value. If this is the type of coverage you have, you can cancel or just stop making payments.
You can get a refund if you paid in advance and then cancel. Depending on the state you live in, you may be charged fees if you cancel before the term ends.
There are more factors to consider when canceling permanent insurance. Whole and universal life insurance have a cash value attached to the policy. when you cancel, you can receive that value in cash after fees are deducted.
The Insurance Information Institute advises that you may be charged surrender fees when you cancel permanent life insurance. however, if you’ve had your policy for a long time, your rates should be low.
If you simply stop making payments on your whole or universal life policy, america can use your cash value to pay for your coverage. once that cash value is exhausted, your policy will expire. you may still be charged fees.
how to cancel america financial life & annuity: the bottom line
you can cancel america financial life & annuity life insurance company coverage at any time, but you may be charged fees to do so.
You will need to speak to customer service and complete a policy cancellation form to end your coverage.
To find the life insurance you need, shop around and compare rates from multiple companies to see who can give you the coverage you need at the cheapest price.
hopefully you learned everything you needed to know to cancel america financial life & annuity life insurance. enter your zip code to compare life insurance quotes from companies near you for free.