BizSugar.com › Finance › A guide on how to cancel term life insurance

If you’ve made the decision to invest in a term insurance policy, you’re likely aware of its benefits already. A term insurance plan will pay a death benefit to the nominee of the policyholder, equal to the sum assured, if they pass away during the term of the policy, making sure the future of the family is financially secure. However, there may be instances where you feel that your term insurance plan is no longer in your best interest, and you may want to cancel the policy you’ve opted for.