Document background
The Cancel Insurance Letter is a crucial document used in the Indonesian insurance market when a policyholder wishes to terminate their insurance coverage before the policy's natural expiration date. This document is essential for compliance with Indonesian insurance regulations, particularly Law Number 40 of 2014 on Insurance and OJK regulations. The letter should be used when a policyholder needs to cancel their insurance due to various reasons such as finding better coverage, no longer needing the insurance, or financial considerations. It must include specific information such as policy details, policyholder information, desired cancellation date, and any refund requests. The document serves as official evidence of the cancellation request and protects both the policyholder's and insurer's interests in accordance with Indonesian law.
