To cancel an Assurity life insurance policy, the owner completes and signs Assurity's Surrender Request form and returns it to the company that issued the policy, either Assurity Life Insurance Company or, in New York, Assurity Life Insurance Company of New York. Assurity says a surrendered policy cannot be reinstated, so confirm the end date in writing. If the policy is brand new, your state's free look period may let you return it for a refund of premium instead.
Assurity says it began in 1890 near Lincoln, Nebraska, is a mutual organization, and describes Assurity as a marketing name for the mutual holding company Assurity Group, Inc. and its subsidiaries, including Assurity Life Insurance Company and Assurity Life Insurance Company of New York.
Assurity is a marketing name, and stopping payments can trigger a choice already on file
Assurity is not the name of the insurance company on your contract. Its own forms say Assurity is a marketing name for a mutual holding company, Assurity Group, Inc., and its subsidiaries. Policies are issued by Assurity Life Insurance Company in every state except New York, where Assurity Life Insurance Company of New York issues them. Read the exact company name on your policy before you fill anything in. The second thing is specific to whole life. Assurity's Payment Option Changes form asks owners to choose a termination option: reduced paid-up insurance, extended term insurance, or surrender for the surrender value. The form says that choice is used if a premium is not paid by the end of the grace period and the automatic premium loan is not selected or not available. So on a whole life policy, simply stopping payments does not always mean the policy just disappears. It can move to the option on file. If you want a clean ending, send the surrender request and keep the confirmation. If you only want to stop paying, ask which option your policy will use first.
How to cancel, step by step
- Find your policy number. It is on the policy itself and on any statement. Work from your own documents rather than from a letter you were not expecting.
- Put the request in writing. Sign and date it, name the policy number, and state the exact date you want coverage to end. A phone call alone leaves you nothing to point at later.
- Say if you are inside the free-look window. If the policy is new, your state may entitle you to a full refund. Make that request explicit rather than assuming it is applied.
- Ask for written confirmation. You want the termination date and, if there is cash value, the amount being released. Keep it.
- Stop the payment last, not first. Only once the insurer has confirmed the policy has ended. Stopping the draft first creates a lapse rather than a cancellation, which is messier and can cost you the cash value.
What to check before you send it
These are the things people most often wish they had looked at first. None of them are reasons not to cancel. They are the difference between a decision and a regret.
- The company name on your policy. Assurity Life Insurance Company issues policies everywhere except New York, and Assurity Life Insurance Company of New York issues them there. The forms are shared and list both. Write the exact name and your policy or certificate number on the request.
- Whether you bought from an agent or through an employer. Assurity's Customer Center asks first whether you bought from an agent or through an employer. Workplace coverage is often issued as a certificate under a group arrangement, so ask your benefits administrator whether the employer or Assurity handles the change before you send a surrender form.
- What kind of policy it is. Term coverage has no cash value, so ending it only ends the protection. Whole life can hold cash value and, on dividend paying plans, paid-up additions. Universal life has its own partial surrender option on Assurity's loan and withdrawal form. Your annual statement shows which you have.
- Loans, withdrawals and what comes back. Assurity's Loan/Withdrawal Request form notes that loans carry interest charges and that funds withdrawn cannot be reapplied. If you have borrowed against the policy, the loan comes out of what you receive. Look at the statement figures before deciding.
- Taxes and withholding. The surrender form says the default federal withholding rate for a non-periodic payment is 10%, and that a W-4R can change it. Some states require withholding you cannot opt out of. How much of a payout is taxable depends on your situation, so ask a tax professional.
- Owner signature and payment method. The form needs the owner's tax ID and signature, plus a joint owner's signature where there is one. It says direct deposit must go to the owner's own bank account. If the owner has passed away, ask Assurity what documents it needs first.
When cancelling is the right answer
Cancelling is the right call when the coverage no longer fits, or when replacement coverage is already approved and in force. If you hold a whole life policy that has been paid for years, ask what a reduced paid-up or extended term option would leave in place before you surrender, since Assurity's own form offers both. If the review shows the policy still does its job, keeping it is a good outcome.
Common questions
How do I cancel an Assurity life insurance policy?
The owner completes Assurity's Surrender Request form, which is listed in its Customer Center, signs it, and returns it using the instructions printed on the form. The form asks for the policy number, the owner's tax ID, withholding choices and how you want to be paid. It also asks you to return the policy if you have it. Ask for written confirmation of the date coverage ended.
Can I cancel a new Assurity policy and get my money back?
Most states require a free look period, a short window after delivery when you can return a new policy for a refund of premium. The length depends on your state and your policy, which prints its own number of days. We could not find a single figure published for every Assurity policy, so check your policy pages and act quickly. Our free look guide explains how the window works.
Is stopping my payments the same as cancelling?
No. Life policies include a grace period, and your policy states how long it is. For Assurity whole life, the Payment Option Changes form says a selected termination option is applied if a premium is unpaid at the end of the grace period and the automatic premium loan is not selected or not available. That option can be reduced paid-up insurance, extended term insurance, or surrender for value. A written cancellation gives you a clear end date.
Will I get cash back if I cancel?
Only if the policy has cash surrender value. Term insurance has none. A whole life or universal life policy may have a surrender value shown on your statement, less any loan. Part of it can be taxable. Assurity's forms also offer loans, withdrawals and partial surrenders, so ask what those would look like before choosing a full surrender.
Can I get a copy of my policy before I decide?
Yes. Assurity's Customer Center says the first request for a copy of your policy or certificate is free, and later requests carry a $20 fee. It lists a Duplicate Policy/Certificate Request form and says delivery takes about two weeks. If you only need a description of your benefits, it says that can come sooner by contacting customer service.
Can I reinstate a policy after I surrender it?
Assurity's surrender form states that once a policy or certificate is surrendered it cannot be reinstated. That is why we suggest checking reduced paid-up, extended term, a policy loan or a partial surrender first, and making sure replacement coverage is in force before you sign.
Free · Read it before you cancel
Read it before you end it.
Bring your Assurity policy, or just the latest letter. We will read it with you, explain what it is worth today and what you would lose, and answer billing or paperwork questions. Keeping it is a fine result, and so is cancelling if it is right for you.
- What cancelling your Assurity policy would end
- Any cash value, dividends or riders you would give up
- Where the written request goes and what to ask for
- Billing and premium questions
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This guide is general information, not legal, tax, or financial advice. Cancellation terms, refunds, and free-look windows depend on your contract and your state. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.