The Policy Cancel Request Letter is a formal document used when a policyholder wishes to terminate their insurance coverage in Singapore. This document is essential for creating a clear record of the cancellation request and ensuring compliance with Singapore's Insurance Act and MAS regulations. The letter should include specific details about the policy, policyholder information, desired cancellation date, and reason for cancellation. It serves as official documentation for both the insurer and policyholder, protecting both parties' interests and ensuring proper processing of the cancellation request.
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1. Policyholder Information: Full name, policy number, contact details, and address of the policyholder
2. Policy Details: Insurance type, policy number, effective date and other relevant policy information
3. Cancellation Request: Clear statement requesting cancellation and desired effective date of cancellation
4. Reason for Cancellation: Brief explanation of the reason for requesting policy cancellation
5. Refund Instructions: Preferred method for receiving any applicable refund and banking details if required
1. Supporting Documentation Reference: Section referencing any attached documents supporting the cancellation request, used when specific documentation is required
2. Alternative Coverage Details: Information about new insurance coverage, included when cancellation is due to switching to another insurer
1. Original Policy Document: Copy of the original insurance policy document as supporting documentation
2. Identification Proof: Copy of identification document for verification purposes
3. Bank Details Form: Form containing banking information for refund processing if applicable
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