You can easily cancel your policy by logging into Bowtie's online platform and selecting "Cancel Policy" at least 30 working days in advance to your next policy renewal day. However, there are three things you should keep in mind.
- If you reapply for any Bowtie Term Life Insurance plan after withdrawing from your policy, you will need to undergo underwriting again. Based on the underwriting results, you may face "extra premiums," "exclusions for specific illnesses," or even "rejection of coverage."
- If you cancel your policy within the 21-day cooling-off period (starting from the policy effective date) and have not received any claims payments or have any claims in progress, you will receive a full refund of all premiums paid and any levy charged.
- The Last Wish Rider will be terminated upon your policy cancellation.