Canceling Symetra Life Insurance: A Step-By-Step Guide

If you're looking to cancel your Symetra life insurance policy, you can do so at any time during the life of the policy. Contact the SwiftTerm Customer Care Center at 1-833-447-9438 to initiate the cancellation process. If you cancel within the first 30 days of receiving your policy, known as the Free-Look Period, you will receive a full refund. However, if you cancel after this period, you will only be refunded for any unused premium that you have already paid beyond the month of your cancellation. It's important to note that skipping or missing premium payments will result in automatic cancellation of your policy.

Cancelling Symetra Life Insurance within the 30-day Free Look Period

Symetra Life Insurance offers a 30-day money-back guarantee, also known as the Free-Look Period. This means that if you change your mind within 30 days of purchasing the policy, you can cancel it and receive a full refund.

To cancel your Symetra Life Insurance policy within the 30-day Free Look Period, you can follow these steps:

• Contact the SwiftTerm Customer Care Center at 1-833-447-9438.
• Inform them that you want to cancel your policy within the Free-Look Period.
• Provide them with your policy details and any other relevant information.
• Confirm the cancellation and ensure you receive a confirmation number or some form of written confirmation for your records.
• You should also receive a full refund of any premiums paid.

It is important to note that the cancellation process may vary depending on your specific policy and location. Therefore, it is always a good idea to review your policy documents or contact Symetra directly for more detailed instructions on how to cancel your policy within the Free Look Period.

Additionally, Symetra also offers the option to cancel your coverage for any reason during the life of the policy. If you are outside the 30-day Free Look Period and have already paid premiums that apply beyond the month of your cancellation, Symetra will refund the unused premium. For example, if you cancel in the second month of your policy but have already paid the annual premium, Symetra will refund the excess amount.

Cancelling after the 30-day Free Look Period

Cancelling Symetra Life Insurance after the 30-day Free Look Period is still possible, but the process and outcomes differ slightly from cancelling within the first 30 days of receiving your policy. Here is what you need to know:

Cancellation Process

To cancel your Symetra Life Insurance policy after the 30-day Free Look Period, you will need to contact the SwiftTerm Customer Care Center at 1-833-447-9438. You can cancel your coverage at any time during the life of the policy if you decide you no longer want it.

Refunds Outside the Free Look Period

If you cancel outside of the 30-day Free Look Period, you may still be eligible for a partial refund. If you have already paid premiums that apply beyond the month of your cancellation, Symetra will refund the unused portion of the premium. For example, if you cancel in the second month of your policy but have already paid the annual premium, Symetra will refund the excess amount.

Policy Surrender

To completely surrender your policy, a written request from the policy owner(s) is required. The owner's signature must be verified and, in some cases, notarization may be necessary. Additionally, the signatures of any irrevocable beneficiaries and collateral assignees are also required. You can request a surrender form by contacting Symetra at 1-800-796-3872.

Coverage Changes

If you are considering cancelling your policy because your needs have changed, there are alternative options available. You may be able to decrease your coverage amount to reduce your premiums or convert your policy to a permanent product offered by Symetra. Contact the SwiftTerm Customer Care Center or your insurance professional to discuss these options further.

Cancelling by phone

To cancel your Symetra life insurance policy, you can contact the company by phone. Here are the steps you can follow:

When cancelling by phone, you can call Symetra's customer service line at 1-800-796-3872. This phone number was provided on the Symetra website and can be used for inquiries related to life insurance policies.

Before calling, ensure that you have all the necessary information readily available. This includes your policy number, personal identification information, and any other relevant details regarding your policy. It is also recommended that you review your policy documents beforehand to understand the specific terms and conditions of your policy.

When you call the customer service line, you will likely be connected to a customer service representative who will guide you through the cancellation process. Be prepared to provide your policy number and any other requested information. Ask any questions you may have about the cancellation process, such as potential fees or refunds, and confirm the effective date of the cancellation.

It is important to note that the cancellation process may vary depending on the specific type of life insurance policy you have with Symetra. For example, if you have a SwiftTerm life insurance policy, you would need to contact the SwiftTerm Customer Care Center at 1-833-447-9438 to initiate the cancellation.

Additionally, if you are within the first 30 days of receiving your policy, known as the "Free-Look Period," you may be eligible for a full refund of any premiums paid. After the Free-Look Period, you may still cancel your policy at any time, but the refund amount may differ. Be sure to inquire about any applicable refunds during your phone call.

Overall, cancelling your Symetra life insurance policy by phone is a straightforward process. By calling the appropriate customer service line and providing the necessary information, you can effectively navigate the cancellation process and ensure your policy is terminated as per your request.

Cancelling by mail

To cancel your Symetra life insurance policy by mail, you will need to submit a written request. This can be done by sending a letter or by completing and submitting the Surrender Form.

To request a surrender form, you can contact Symetra Customer Service at 1-800-796-3872. Once you have the form, it will need to be completed and signed by the policy owner(s). If there are any irrevocable beneficiaries or collateral assignees, their signatures will also be required. Depending on the situation, notarization of the owner's signature may be necessary.

If you choose to send a letter instead, it should include all the relevant information and be signed by the necessary parties. You will need to include the policy owner's signature, and potentially the signatures of any irrevocable beneficiaries and collateral assignees. Again, notarization of the owner's signature may be required if their signature has changed.

Be sure to include all relevant details in your written request, such as the policy number, owner's name, and reason for cancellation. You can send your written request by mail to the following address:

Symetra Life Insurance Company

777 108th Avenue NE, Suite 1200

Bellevue, WA 98004

It is important to note that if you are within the first 30 days of receiving your policy, known as the Free-Look Period, you can cancel and receive a full refund. If you are outside of this period, you may still cancel at any time, but the refund process will depend on the timing and payments made. If you have already paid premiums that apply beyond the month of your cancellation, Symetra will refund the unused portion.

For example, if you cancel in the second month of your policy but have already paid the annual premium, Symetra will refund the amount for the remaining months. This refund process is separate from the Free-Look Period, where you are eligible for a full refund within the first 30 days.

Cancelling online

To cancel your Symetra life insurance policy online, you will need to log in to your account on the Symetra website.

First, visit Symetra.com. Then, click on the "My Account" button at the top of the screen. If you do not have an account, you will need to create one by clicking on the "Create a new user account" link directly under the "Account access" title. When creating an account, select "I'm a customer" from the Type of User drop-down box and enter your policy number to set up your online account.

Once you have logged in to your account, you can submit a request to cancel your policy. You may also need to download and complete a form, such as the Premium Billing Change Request form, and submit it online, by fax, or by mail.

It is important to note that cancelling your Symetra life insurance policy may result in a refund or other financial implications, depending on the timing of your cancellation. If you cancel within the first 30 days of receiving your policy (known as the Free-Look Period), you will receive a full refund. If you cancel after this period, you may be eligible for a refund of any unused premium that you have already paid.

Additionally, keep in mind that cancelling your life insurance policy may have consequences for your financial and protection plans, especially if you have beneficiaries who depend on you financially. Consider reviewing your policy details and seeking financial advice before making any decisions.

Frequently asked questions