How to Surrender Life Insurance Policy


If you decide that your life insurance policy is no longer necessary, you can easily cancel your coverage and avoid any future premium payments. If your life insurance contract is a permanent policy, and is beyond the surrender period, any cash value accumulated in the policy will be sent to you after termination.

Things You'll Need

  • Original life insurance contract
  • Policy number

Contact the life insurance agent who sold you the policy. If that agent is no longer available, contact the insurance company’s Customer Service Department instead.

Request the life insurance surrender/termination documents.

Complete the forms and return to the insurance company via postal mail or fax.

Destroy or return your original life insurance contract, depending on the insurance company’s procedures.

Tips & Warnings

  • If obtaining the cash value is your primary intention, you may be able to access this money as a loan without actually surrendering your policy.
  • Once a life insurance policy is surrendered, you are no longer covered by the policy. This will leave you uninsured, unless other policies are still in force.
  • In some instances, depending on your state's income tax laws, money received from the surrender of a life insurance policy may be taxable.

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