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Cancel Life Insurance
applecatcher4
Posts: 2 Newbie
I have a small life insurance policy - premium of about £8. I wish to cancel it as I have separated from my wife. I have informed Royal London in writing and cancelled my direct debit. They have now sent me an authorisation to sign. It also asks for the trustee to sign. This is my wife and she will certainly refuse to pay. Can I just ignore this letter?
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Comments
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If you want to cancel it, stop paying the premiums. They will stop the cover but you will receive letters for the next 3 months or so.
Because the policy is in trust, in order to make any changes they need the trustees authorisation as theyre acting in the best interest of the beneficiary. But if the premiums arnt being paid cover will just stop. Your wife i think will also be receiving these letters.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks.
Clear and helpful answer.0
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