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The Termination Of Insurance Coverage Letter is a crucial document used in the Philippine insurance industry when an insurance policy needs to be terminated, either by the insurer or at the policyholder's request. This document must conform to the requirements set forth in the Insurance Code of the Philippines and various Insurance Commission circulars. It serves multiple purposes: officially documenting the termination date, stating the reason for termination, addressing any premium refunds or outstanding payments, and informing the policyholder of their rights and obligations post-termination. The letter is particularly important as it provides legal protection for both parties and ensures clear communication regarding the end of the insurance relationship. It may be triggered by various circumstances such as non-payment of premiums, policy expiration, material changes in risk, or voluntary termination by the policyholder.

1. Letterhead and Date: Insurance company's official letterhead and current date

2. Recipient Details: Policyholder's complete name and address

3. Subject Line: Clear indication that this is a notice of insurance coverage termination, including policy number

4. Policy Information: Details of the insurance policy being terminated, including type of coverage and policy number

5. Termination Statement: Clear statement of termination and effective date

6. Reason for Termination: Explanation of why the coverage is being terminated

7. Final Premium Status: Statement regarding any outstanding premiums or paid-up status

8. Next Steps: Instructions for the policyholder regarding any required actions

9. Contact Information: Details for how the policyholder can reach out with questions

10. Closing and Signature: Professional closing, signature of authorized representative, and title