How to Change Life Insurance Carriers

Video Transcript

"Hello my name is Vic Schumacher with HPE Financial Services. I'm an insurance broker representing a variety of companies. Today we are going to talk about how does the consumer change insurance policies or insurance carriers. Well they can change it or the company can change it. A consumer can stop making a premium as an example, that will stop the policy and the policy will lapse. The consumer can pick up the phone and call the insurance company at any point in time and stop the policy, tell them you want to cancel the policy. An insurance consumer can call the agent and have the agent do it for them if they don't have the desire to talk to the company themselves. Just because you have an insurance policy or a contract with the company doesn't mean that the consumer has to follow through the entire time and wait to the policy renews. You can cancel at any particular point in time. The insurance company doesn't want to cancel you, if you stop your premium they will. Because they are making money from the program and the premiums that you are making to them. But the consumer, the consumer can stop the policy at will. They can start it, they can stop it, they can raise it, they can lower it. My name is Vic Schumacher, HPE Financial Services helping people every day."