Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jul 15, 2021

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The Brief

  • You can cancel Americo Financial Life & Annuity insurance at any time, for any reason
  • You might have to pay fees for canceling depending on the type of policy you have and where you live
  • You can lower your rates by changing the type of policy you have and your coverage

There are many different reasons you might need to know how to cancel Americo Financial Life & Annuity insurance.

Whether you want to find lower rates or just don’t want life insurance anymore, the cancellation process is pretty simple.

We’ll show you the steps for how to cancel Americo life insurance and even help you shop for new coverage.

Before you cancel, read our Americo life insurance review to learn more about the company. Americo Financial Life and Annuity insurance company reviews, rates, and ratings are included.

Keep reading to learn how to cancel Americo Financial Life and Annuity life insurance. Enter your ZIP code to compare life insurance rates from multiple companies near you for free.

What are the steps to cancel Americo Financial Life & Annuity life insurance?

No matter why you want to cancel Americo life insurance, the process is the same. Americo allows you to cancel your coverage for any reason, at any time.

There are some differences between canceling term and permanent life insurance. However, these are the general steps to take regardless of coverage type:

  • Step 1 – Speak with customer service to begin the cancellation process. The Americo Financial Life and Annuity insurance company phone number is (800) 231-0801.
  • Step 2 – Provide your personal information and policy number.
  • Step 3 – Explain that you want to cancel your life insurance. If you are canceling because of the price, they may be able to offer you lower rates to keep you as a customer.
  • Step 4 – Ask for written confirmation of your cancellation. You will have to send in a policy cancellation request.
  • Step 5 – Follow up. After your cancellation date, check to make sure your cancellation is complete, and ask about any refund you might be due.

The cancellation process with Americo is pretty simple. However, you might be charged fees and penalties for canceling your coverage.

Be sure to ask about this when you speak with customer service so that you aren’t surprised.

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What should you consider before canceling Americo Financial Life & Annuity life insurance?

While Americo allows you to cancel your coverage when you want, there may be fees that go along with that. Americo offers term and permanent life insurance options.

Term life insurance is simple to cancel. Term coverage is the cheapest form of life insurance and has no cash value. If this is the type of coverage you have, you can either cancel or just stop making payments.

You may receive a refund if you have paid in advance and then cancel. Depending on the state you live in, you may be charged fees if you cancel before your term is up.

There are more factors to consider when canceling permanent insurance. Whole and universal life insurance have a cash value attached to the policy. When you cancel, you may receive that cash value after any fees are deducted.

The Insurance Information Institute reports that you can be charged surrender fees when you cancel permanent life insurance. However, if you’ve had your policy for a long time, your fees should be low.

If you just stop making payments on your whole or universal life policy, Americo can use your cash value to pay for your coverage. Once that cash value is exhausted, your policy will lapse. You may still be charged fees.

How to Cancel Americo Financial Life & Annuity: The Bottom Line

You can cancel Americo Financial Life & Annuity life insurance company coverage at any time, but you might be charged fees to do so.

You will need to speak with customer service and fill out a policy cancellation form in order to end your coverage.

To find the life insurance you need, shop around and compare rates from various companies to see who can offer you the coverage you need at the cheapest price.

We hope you’ve learned all you needed to know to cancel Americo Financial Life & Annuity life insurance. Enter your ZIP code to compare life insurance quotes from companies near you for free.