How To Cancel Your Foresters Life Insurance Policy [2023]

Do you want to know how to cancel Foresters Financial life insurance policies? Foresters Financial uses different terms for cancellation and life insurance policies.

Does Foresters Financial cancel life insurance policies differently than other companies? Don’t worry — we’ll answer your questions.

Read this guide to learn how to cancel Foresters Financial life insurance, which life insurance companies provide the best term life insurance quotes, and when you should cancel.

Can I cancel Foresters Financial life insurance by phone?

No, you can’t. Foresters Financial insists that you use the Foresters Financial insurance surrender form to cancel your certificate (insurance policy).

Can I cancel Foresters Financial life insurance online?

The short answer is no. Foresters Financial provides its email, phone number, and cancellation form online. However, you can’t cancel your policy online.

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How do I cancel my Foresters life insurance policy?

Foresters Financial customer service handles cancellations by mail. But you’ll need to send a signed letter and a completed Foresters life insurance surrender form.

Here’s the step-by-step process for how you can cancel a Foresters Financial life insurance policy.

• Step #1 – Contact Foresters Financial at (800) 828-1540 and let them know you want to cancel your policy
• Step #2 – Go to the Foresters Financial website
• Step #3 – Click on “Customer care,” then click on “Life insurance”
• Step #4 – When you arrive at the “Customer care” page, click on “Forms”
• Step #5 – Scroll to the bottom of the list until you see “Certificate surrender request form”
• Step #6 – Download and print the surrender request form
• Step #7 – Fill out the Foresters Financial cancellation form and send it to the Foresters Life Insurance customer service address along with a signed letter

Mail your Foresters Financial life insurance surrender form to:

Foresters Financial
P.O. BOX 179
Buffalo, NY 14201

If you need to send it faster, send your surrender form and letter using express mail to 2221 Kenmore Avenue, Suite 108, Buffalo, NY 14207-1306.

You can cancel your Foresters Financial life insurance any time you need to. But it may take a few weeks for it to go through.

Do Foresters Financial customers receive refunds after cancellation?

Foresters Financial does have a free-look period, but there is no information on the website about how long that period lasts.

Most free-look periods last up to 30 days. This small window of time allows you to cancel your life insurance policy without penalties.

You can also receive a refund if you’ve paid for life insurance service during the free-look period.

What is a Foresters Financial withdrawal?

If you have a permanent life insurance policy with Foresters Financial, you can withdraw money from your accumulated cash value.

You can cash out your permanent life insurance policy (such as whole life insurance) and cancel your policy at the same time.

However, the cash value you receive after withdrawing money from the life insurance policy is lower than your accumulated cash value.

The money you receive from a life insurance withdrawal is known as the surrender cash value. 

What are the best life insurance companies?

Finding the best life insurance companies is essential after canceling a policy.

If you received a refund from whole life insurance and want to buy term life insurance, start with the best insurance companies in the United States.

Here’s a list of the top life insurance companies in the nation.

You can get term life insurance for as low as $9 a month. However, your rates are determined by age, health, gender, policy length, and policy type.

Multiple factors determine whether affordable Foresters Financial life insurance is available to you. Keep shopping around until you find the policy you need.

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Why should I cancel Foresters Financial life insurance?

There are several reasons why you should consider canceling Forester Financial life insurance. Here’s a list of reasons why you might cancel a life insurance policy.

• The Foresters Financial Life Insurance Company is too expensive
• You found a better life insurance policy
• You’re moving and your insurance company doesn’t service your new state
• Your term life insurance policy is about to expire
• You missed too many payments

Cancellation due to nonpayment may have negative effects on your credit. According to the Federal Trade Commission (FTC), your credit history can affect your ability to get affordable insurance and your eligibility for loans.

Case Studies: How to Cancel Foresters Financial Life Insurance

Case Study 1: John’s Surrender Request

John has decided to cancel his Foresters Financial life insurance policy. He downloads and prints the Foresters Financial insurance surrender request form from their website. He carefully fills out the form, providing all the required information accurately.

John then sends the completed form to Foresters Financial’s customer service via mail. He mails it to the following address:

Foresters Financial P.O. BOX 179 Buffalo, NY 14201

John understands that the cancellation process may take a few weeks to be processed by the company. He patiently waits for the cancellation to be finalized.

Case Study 2: Emily’s Permanent Policy Withdrawal

Emily has a permanent life insurance policy with Foresters Financial, specifically a whole life insurance policy. She decides to cancel the policy and withdraw money from her accumulated cash value. Emily contacts Foresters Financial’s customer service to initiate the withdrawal process.

After providing the necessary details and completing the required paperwork, she receives the surrender cash value, which is lower than her accumulated cash value.

Emily acknowledges that canceling her permanent life insurance policy and withdrawing funds will impact her coverage and financial situation. She carefully considers her options and seeks advice from a financial professional before making a final decision.

Case Study 3: Mark’s Refund Eligibility

Mark recently canceled his Foresters Financial life insurance policy during the free-look period. He had paid for the life insurance service but decided it wasn’t the right fit for his needs. As per the terms and conditions, Mark is eligible for a refund of the premiums he had paid during the free-look period.

He contacts Foresters Financial’s customer service to inquire about the refund process and provides the necessary documentation to initiate the refund.

Mark understands the importance of reviewing the terms and conditions of his policy to determine his refund eligibility and takes proactive steps to receive his refund promptly.

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How to Cancel Foresters Financial Life Insurance: The Bottom Line

It’s not a bad idea to cancel Foresters Financial life insurance, especially if your monthly Foresters Financial life insurance rates are too expensive.

Before you cancel, you should compare Foresters Financial life insurance quotes with quotes from other companies to make sure you get the best deal.

If you want another look at Foresters Financial, check out our Foresters Financial life insurance review.

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