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GLEANER LIFE INSURANCE SOCIETY 5200 West U.S. Hwy. 223 P.O. Box 1894 Adrian, Michigan 492217894 1.800.992.1894 FAX 517.265.7745 WEB www.gleanerlife.org EMAIL gleaner life.org Request for Cash Surrender

How to fill out request for cash surrender

How to fill out a request for cash surrender:

1. Start by obtaining the correct form from the financial institution or insurance company that holds your policy.
2. Fill in your personal information accurately and completely. This may include your full name, address, social security number, policy number, and contact information.
3. Provide details about the policy for which you are seeking cash surrender. Include the policy number, type of policy (such as whole life or universal life), and the date the policy was issued.
4. Indicate the total amount of cash surrender value you wish to receive. This is the amount that the insurer will pay you if you choose to cancel the policy.
5. If necessary, provide additional information or documentation requested on the form. This may include proof of identification, a copy of the policy, or any other supporting documents.
6. Review the form for completeness and accuracy before signing and dating it. Make sure all required fields are filled in and that you have provided all necessary information.
7. Submit the completed request form to the appropriate address or office of the insurer. It's recommended to keep a copy of the request for your records.
8. Wait for confirmation from the insurer regarding the processing of your request. This may involve additional paperwork or verification before the cash surrender value is paid out.

Who needs a request for cash surrender?

1. Individuals who have a life insurance policy or annuity and wish to cancel it and receive the cash value.
2. Policyholders who find their insurance policy no longer necessary or affordable and want to cash out the surrender value instead.
3. Those who have a better use for the money invested in the policy, such as paying off debts, covering emergency expenses, or investing in other opportunities.
4. People who have reached the end of their payment obligations on the policy but no longer wish to continue the coverage or make future premium payments.

For pdfFiller’s FAQs

What is request for cash surrender?

A request for cash surrender is a formal request made by a policyholder to surrender their life insurance policy in exchange for a cash payment.

Who is required to file request for cash surrender?

The policyholder who wishes to surrender their life insurance policy is required to file a request for cash surrender.

How to fill out request for cash surrender?

To fill out a request for cash surrender, the policyholder needs to contact their insurance company and request the necessary forms. The forms must be completed with accurate information and submitted to the company for processing.

What is the purpose of request for cash surrender?

The purpose of a request for cash surrender is to allow the policyholder to terminate their life insurance policy and receive a cash payment in return.

What information must be reported on request for cash surrender?

The request for cash surrender typically requires the policyholder to provide personal information, policy details, and banking information for the cash payment.

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