Workflow Templates: policy cancellation checklist

Verify policy number and customer information.

Check the policy type and coverage details.

Note the policy expiration date and current status.

Review any outstanding claims or pending transactions.

Ensure all policy documents are up to date.

Identify the reason for cancellation.

Review cancellation terms and conditions.

Determine any penalties or fees applicable.

Check for any required notice period for cancellation.

Confirm if any refunds are due upon cancellation.

Inform the policyholder about the cancellation process.

Provide details of any applicable penalties or fees.

Explain the impact of cancellation on coverage and benefits.

Offer alternative solutions or policy options if possible.

Ensure the policyholder's understanding and obtain confirmation.

Complete the necessary cancellation forms and documentation.

Update the policy status in the system.

Process any applicable refunds or charges.

Notify relevant departments about the cancellation.

Archive the policy records as per company policy.

Send a confirmation letter or email to the policyholder.

Provide information on any final statements or documents needed.

Advise on future policy options or reactivation processes.

Gather feedback on the cancellation experience.

Ensure all records are filed and accessible for future reference.

policy cancellation checklist