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Policy Cancellation Request Letter Template for Nigeria

A formal written request document used in Nigeria to initiate the cancellation of an insurance policy, governed by Nigerian insurance law and regulations, particularly the Insurance Act 2003 and NAICOM guidelines. This document serves as an official communication between the policyholder and the insurance company, containing essential information such as policy details, cancellation date, and any specific requirements under Nigerian law. It ensures compliance with local regulatory requirements while providing a clear audit trail of the cancellation request.

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What is a Policy Cancellation Request Letter?

The Policy Cancellation Request Letter is a crucial document in Nigerian insurance practice, used when a policyholder wishes to terminate their insurance coverage before the natural expiry date. This document is essential for compliance with Nigerian insurance regulations, including the Insurance Act 2003 and NAICOM guidelines, which require formal written notice for policy cancellations. The letter should include specific policy details, desired cancellation date, and any relevant supporting information. It serves as official documentation of the request and initiates the cancellation process, potentially affecting premium refunds and ongoing coverage. This document is particularly important in Nigeria's insurance sector, where formal documentation is required for all policy changes and terminations.

What sections should be included in a Policy Cancellation Request Letter?

1. Sender's Details: Full name, address, and contact information of the policyholder

2. Date: Current date of the letter

3. Recipient's Details: Insurance company's name, department, address

4. Subject Line: Clear indication that this is a policy cancellation request with policy number

5. Policy Information: Details of the policy including policy number, type of policy, and effective date

6. Cancellation Request Statement: Clear and explicit statement requesting cancellation of the policy

7. Requested Cancellation Date: Specific date when the policyholder wants the cancellation to take effect

8. Closing: Professional closing, signature, and printed name of the policyholder

What sections are optional to include in a Policy Cancellation Request Letter?

1. Reason for Cancellation: Include when the insurance company requires justification or when it might affect the cancellation process

2. Premium Refund Request: Include when seeking refund of pre-paid premiums

3. Claims History Statement: Include when there are ongoing claims or recent claim settlements

4. Alternative Insurance Information: Include when required by law or when replacing the policy with another insurer

5. Special Instructions: Include when there are specific requirements for the cancellation process or document return

What schedules should be included in a Policy Cancellation Request Letter?

1. Proof of Identity: Copy of valid ID or other documentation proving policyholder's identity

2. Policy Documentation: Copy of current policy document or certificate

3. Premium Payment Records: If relevant to refund calculations or disputes

4. Power of Attorney: If the cancellation request is being made by someone other than the policyholder

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Nigeria

Publisher

Genie AI

Document Type

Insurance Form

Sector

Insurance

Cost

Free to use

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