If you are looking to surrender life insurance policy either because you the policy is no longer needed or for another reason then this article will give you some guidelines on how to go about doing this.

If you find out that you have smaller insurance policies but realized that you won’t be needing all, then you might want to consider to en cash the paid up insurance policies. The truth is, this is one of the fastest ways of getting money without having to deal with many hassles. However, if you have no other insurance cover, it is suggested that you have to review the value of the insurance before surrendering it. If in case you want to surrender your life insurance policies as a whole by following the steps below.

• Look for the company. If in some cases you have found out that the company have changed its name, went out for a business or merged with other companies, then there is no chance that you will be able to find it on the list. However, you may seek for the help of the State Insurance Commissioner’s office and they will help you find your insurance company.

• Contact the insurance company through phone or write for forms. But if you have a telephone number of the company, it is best suggested that you speak to them personally rather than write. Through this process, you will be able to ask questions and receive answers instantly and you will also have the opportunity to get all the necessary forms. This is especially important if your parents are the ones who purchased the policy for you. They can still be the owner of the policy and you don’t have the right to cash it.

• Whenever you want to borrow from the policy, make it a point to speak to the representative. Sometimes the cash value expands quickly or the dividends are high enough so it will be better to simply borrow from the policy than cashing it. So before finalizing your decision, ensure yourself to talk to one of the company’s representative.

• Thoroughly fill out the forms. Make it a point that you have entered the correct policy number and have filled out the form properly. You have to keep in mind that these errors can cause delays to the issuance of checks. Make yourself a copy of everything including the deck copies of the policies. The deck sheet indicates the name if the insured, the face amount, and the policy number.

• Mail the form to the company. You may also give it to the local agent for surrender.

• Wait for the arrival of the check. If the issuance takes longer than what they have told you, simply call the service center to know the cause of the delay. If the check has been lost in the mail, you need to ask company personnel of the necessary things to do.

Hopefully these guidelines or tips will help you if you are thinking to surrender your life insurance policy.