I want to cancel my term-. What do i need to do. I don’t need it anymore

 

  • insuranceguytx 5:05 pm on March 6, 2010

    Stop paying the premiums.

    One alternative would be to sell your policy through a Life Settlement. Some businesses buy policies all the time even term policies that have no cash value. How much you get will depend on your age, your health, the size of the policy (death benefit) and whether the policy can be converted.

    Call your agent and ask about Life Settlements.

    Good Luck

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  • Mr. Prefect 5:05 pm on March 6, 2010

    Just stop paying for it, and it will be canceled.

  • src50 5:05 pm on March 6, 2010

    Stop paying the premiums.

  • Michael M 5:05 pm on March 6, 2010

    With a term policy you can just quit paying for it. If you are on automatic draft, then you will have to call up the company and tell them you want to cancel the policy.