The following tips explain how to write a letter in order to notify a policyholder that his policy shall be cancelled due to non-payment of the due insurance premium. The letter begins with a reminder about the due payment.What is the purpose of this letter to the policyholder?
The purpose of this letter is to inform him that he may end up losing all coverage provided by his insurance policy in case of further delays in the payment. In this way, the company provides another chance to the policyholder to clear the dues.What is a reminder letter in insurance policy?
However, before the cancellation of the policy, the company sends a reminder letter to the client. The purpose of this letter is to inform him that he may end up losing all coverage provided by his insurance policy in case of further delays in the payment.Can a client make a claim if the company cancels the policy?
The client cannot make any claims once the policy has been cancelled. A client who has been neglecting the due payment needs to be reminded about what advantages his insurance policy holds. Re-emphasize all the benefits so that you can make him aware of what he is going to lose in case the company cancels the policy.