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The Insurance Cancellation Letter is a crucial document used in the Indonesian insurance market when a policyholder wishes to terminate their insurance coverage before the natural expiry date. This document is required under Indonesian insurance law, particularly Law No. 40 of 2014 on Insurance, and must comply with OJK regulations regarding policy termination. The letter serves as formal documentation of the cancellation request and typically includes policy details, policyholder information, reason for cancellation, and premium refund requests. It's commonly used when policyholders find alternative coverage, need to adjust their insurance needs, or want to terminate coverage for other valid reasons. The document plays a vital role in ensuring proper documentation and compliance with legal requirements for insurance policy termination in Indonesia.

1. Sender Details: Full name, address, and policy number of the policyholder

2. Recipient Details: Insurance company's name, address, and department (if applicable)

3. Date: Current date of the letter

4. Subject Line: Clear indication that this is an insurance policy cancellation request

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

6. Cancellation Request: Clear statement requesting cancellation and desired effective date of cancellation

7. Reason for Cancellation: Brief explanation of the reason for cancellation (if required)

8. Return Premium Request: Request for any applicable premium refund as per policy terms

9. Closing: Formal closing with signature block and contact information