Adjust Text Size

Cancelling John Hancock Life Insurance, Resolved

Written by Nickel - 4 Comments

Awhile back, I wrote about the fact that John Hancock automatically renewed our term life insurance policies even though the credit card that they had on file was well past its expiration date (the account was still open, but the card itself had expired). In addition to sending in letters requesting that they cancel our policies, I also decided to dispute the charges with the card issuer (Chase) on the grounds that the charge had been made against an expired card. As of yesterday, I can now say that the credit card dispute worked. We still haven’t received a response to our cancellation requests, but we both just got letters stating that our policies had been “terminated due to non-payment of the premium.” Now we have a credit balance with Chase, but we’re not out any money.

Disclaimer: Discover is a paid advertiser of this site.
Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.

Published on January 18th, 2006 - 4 Comments
Filed under: Insurance

About the author: is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Related articles...

» Cancelling John Hancock Term Life Insurance
» The Best of FCN – Selections from 12/05
» E-mail Reminders: Never Miss a Due Date
» Zurich Direct Life Insurance Class Action Lawsuit
» Husband Cancels Life Insurance, Wife Divorces Husband
» Noise Cancelling Headphones – Recommendations?
» Buying Term Life Insurance (Again), Update #4
» Buying Term Life Insurance, Part V (Epilogue)

Was this article useful? Please sign up to receive our content via e-mail:

You will receive only the daily updates, and can unsubscribe at anytime.

4 Responses to “Cancelling John Hancock Life Insurance, Resolved”

  1. 1
    Jay Fleischman Says:

    Make sure your letters requesting cancelling are sent by certified mail. If not, there’s a chance the insurance company will deny receipt of the request to cancel; if so, they will charge you for the unpaid period. This would amount to a mere annoyance but for the fact that many insurance companies report past due accounts to the major credit reporting agencies.

  2. 2
    xxx Says:

    Which companies report missed premiums to the credit agencies? I have never heard of this

  3. 3
    nickel Says:

    Actually, it seems that most (all?) insurers simply cancel your policy if you fail to pay, as opposed to reporting you to a credit bureau and, eventually, turning you over to collections.

  4. 4
    LIC Says:

    Jay is right, you should sent your letters to the insurance company are always sent by certified mail. I think, it is really sad, that all insurance companies are working this way.

Leave a Reply

Top Cards by Category

Earn 100 Reward Dollars after you make $1,000 in purchases in the first three months of Cardmembership.

Earn 25K Membership Rewards(R) points after you spend $2,000 during your first three months of Card membership.

Consumer friendly credit card with a great low rate of 7.25% and save on interest charges. No balance transfer fees and no annual fee.

The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*

The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*

Consumer friendly credit card with a great low rate of 7.25% and save on interest charges. No balance transfer fees and no annual fee.

Limited Time Offer: Get 25,000 Membership Rewards(R) points after you spend $5,000 in the first three months of Card membership. Enroll and select a qualifying airline to receive up to $200 annually in statement credits for incidental fees, such as checked bags and in-flight refreshments, charged by the airline.

The new Discover it card is out to change the way people think about credit cards. No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And Discover won't increase your APR for paying late.*

Previous
Pause
Next

FiveCentNickel User Survey