Can I cancel my Liberty Mutual policy online?
Have you ever wondered, "Can I cancel my Liberty Mutual policy online?" You can cancel a policy when you want, but you'll need to speak to a Liberty Mutual representative. There are also a few steps to take before you ask yourself, "If I need cheaper life insurance rates, can I cancel my Liberty Mutual policy online?"
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UPDATED: Jun 22, 2022
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- You own your life insurance policy so you can cancel it at any time
- You cannot cancel your Liberty Mutual life insurance policy online
- Shopping online allows you to compare multiple life insurance quotes at once
With so much happening in the world today, it can feel like there is very little that can actually be controlled, which makes it extra nice to know that you at least can take charge of your life insurance policies.
That means that you can switch companies or even cancel Liberty Mutual insurance coverage whenever you desire. This news may be exactly what you’ve wanted to hear if you’ve been asking yourself, “If I need more affordable life insurance, can I cancel my Liberty Mutual policy online?”
For those of you who want to cancel your Liberty Mutual policy, you can, but you will have to take certain steps to make sure that you do it properly and don’t leave yourself or your loved ones unprotected.
If you’re thinking, “Can I cancel my Liberty Mutual policy online?” get life insurance quotes to compare coverage and rates. This will empower you to make the best decision for your needs.
Enter your ZIP code to get free life insurance quotes if you’ve been wondering, “Can I cancel my Liberty Mutual policy online?”
Can I cancel my Liberty Mutual life insurance policy online?
While you may have known that you can cancel your life insurance policy with Liberty Mutual at any point, you may not have known that you cannot cancel your policy online.
In order to end your relationship with Liberty Mutual, you will need to call and request for your policy to be canceled. Now, canceling a life insurance policy is no laughing matter, but with the Liberty Mutual refund policy, you could very well be laughing all the way to the bank.
You see, if you paid for a year’s worth of insurance coverage upfront but decided to cancel your policy only after having it for a few months, you would be refunded any monies that you had already paid for the upcoming month.
Bear in mind, you will not get a check back for the months of coverage that you had.
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What is Liberty Mutual’s cancellation policy?
You may fear that you have to conduct an internet search for “Liberty Mutual cancel policy fee,” but you’ll be happy to hear that canceling a policy with this insurance company is not that difficult at all. Like most insurance companies, Liberty Mutual understands that life is full of the unexpected and sometimes life events will force you to cancel your policy.
Now, if you’re thinking, “I’m starting a family and need to buy life insurance, can I cancel my Liberty Mutual policy online since it doesn’t provide enough coverage?” you should pause before you do anything drastic. There are a few steps you should take before you ever cancel a life insurance policy.
Look Up Your Life Insurance Policy’s Terms
Prior to canceling your policy, you should always review your life insurance policy’s terms — especially if the reason you’re thinking of canceling the policy is to obtain more coverage.
When reviewing your policy, consider these questions:
- Can I buy more coverage at certain points in this policy’s life?
- Can I convert my term life insurance policy into a different type so I can purchase more coverage?
- Can I afford to buy supplemental coverage instead?
If, after going over these questions, you still want to cancel your Liberty Mutual policy, you’ll need to start acquiring quotes before you do anything else.
Compare Life Insurance Quotes
Shopping for new life insurance can feel quite overwhelming at times. So if you’re thinking, “If I need cheaper life insurance rates, can I cancel my Liberty Mutual policy online, and how can I streamline this process?” you’re in luck.
In this day and age, you can compare multiple life insurance quotes at once if you have access to the internet via your smartphone or personal tablet. That means that you don’t have to wait to start looking for a better rate, but you should also make sure that you aren’t losing out on good coverage either.
When comparing quotes, take a look at how much coverage and what types of riders each company can offer you and the rates that come along with such policies. If you are a smoker, you could end up paying higher rates. Insurance companies consider smoking cigarettes or vaping to be highly detrimental to your health and therefore mark you as a high-risk applicant.
Curious as to what you may pay for life insurance if you smoke? Take a look at this chart below:
Average Annual Life Insurance Rates for Smokers
|Marital Status, Age & Gender||Massachusetts Mutual||State Farm||New York Life||Aegon/|
|John Hancock||Lincoln National||Prudential Financial||Average|
|Single 25-Year-Old Female||$132.00||$143.00||$158.00||$164.00||$172.50||$187.00||$195.00||$164.50
|Single 25-Year-Old Male||$147.00||$164.00||$152.00||$176.00||$178.30||$231.00||$237.00||$183.61
|Married 35-Year-Old Female||$137.00||$166.00||$164.00||$161.00||$178.30||$191.00||$196.00||$170.47
|Married 35-Year-Old Male||$151.00||$175.00||$160.00||$171.00||$189.80||$238.00||$248.00||$190.40
|Married 45-Year-Old Female||$209.00||$238.00||$262.00||$229.00||$241.50||$239.00||$314.00||$247.50
|Married 45-Year-Old Male||$230.00||$239.00||$245.00||$255.00||$292.10||$283.00||$378.00||$274.59
|Married 55-Year-Old Female||$373.00||$341.00||$414.00||$453.00||$407.10||$435.00||$496.00||$417.01
|Married 55-Year-Old Male||$451.00||$396.00||$696.00||$527.00||$533.60||$615.00||$584.00||$543.23
|Single 65-Year-Old Female||$763.00||$684.00||$924.00||$1,139.00||$937.30||$903.00||$941.00||$898.76
|Single 65-Year-Old Male||$1,049.00||$955.00||$1,416.00||$1,367.00||$1,380.00||$1,577.00||$1,412.00||$1,308.00|
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Of course, pricing isn’t the only item that you should be looking at when on the hunt for a new insurance company. You need to consider what else the company can offer you as well.
Consider What You’re Looking For In a New Insurance Company
When you start shopping for a new life insurance policy, you must ask yourself questions like these:
- What premium payment protections does this company offer?
- Is this a reputable company?
- Does this company file claims quickly?
- Does this company provide policies that can give me living benefits?
Essentially, you need to pinpoint what was lacking in your previous policy and find a company that either meets or exceeds your expectations.
For example, if you would like to make sure that you have protections in place that will allow you to stop making premium payments if you are injured and can’t work, you should be on the lookout for companies that provide waiver of premium riders at an affordable rate. Once you’ve found the perfect policy for you, you should finalize your purchase.
Purchase Your New Policy
It may seem odd to buy another life insurance policy before canceling your old one, but the worst thing you can do is leave yourself and your loved ones without protection.
If you were to cancel your policy without another one already in place, you would be without any kind of insurance coverage. Your loved ones would have no financial cushion if you were to pass away during the period of time you had no policy in place.
Cancel Your Previous Policy
When your new policy is active, you can go ahead and cancel the policy you no longer wish to continue. This way you will not have a lapse in coverage.
You will have to call a Liberty Mutual insurance representative to cancel your policy, but that is a simple enough process. While you’re on the phone, be sure to ask if you will be receiving any refunds.
What if Liberty Mutual canceled my policy?
What happens if you haven’t canceled your policy but Liberty Mutual has?
An insurance company can cancel an insurance policy for a few reasons. For example, if you’ve committed insurance fraud or have failed to make your payments on the policy, the insurance company is well within its rights to end the policy.
If you’ve found yourself in such a situation, you can hop online and find a new policy with any number of great insurance companies. Take look below at what some of the top companies in the industry can offer you:
Average Monthly 20-Year Term Life Insurance Rates by Company and Age (Males)
|Company||Age 30 Average Monthly Rates||Age 40 Average Monthly Rates||Age 50 Average Monthly Rates||Age 60 Average Monthly Rates|
|Mutual of Omaha||$13.56||$20.08||$46.55||$134.05|
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Don’t go too long without insurance coverage. Life insurance is an important tool that can help your loved ones pay for college, cover funeral expenses, and more.
Canceling Your Liberty Mutual Policy: The Bottom Line
If you’ve caught yourself wondering, “If I want a new life insurance company, can I cancel my Liberty Mutual online?” you’ll be happy to know that you can cancel your life insurance policy at any time; however, you will need to call to do so.
That being said, you don’t have to wait to start looking for a new life insurance policy. You can compare quotes right away wherever you have internet access.
Remember to look for policies that meet your coverage needs as well as the needs of your budget.
If you’ve ever wondered, “Can I cancel my Liberty Mutual policy online?” enter your ZIP code to start comparing free quotes from companies near you.