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Cancel LIC
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Cancellation service #1 in South Africa
4.9Calculated on 5.6K reviews
I hereby notify you of my decision to terminate the contract relating to the Lic service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation LIC: Easy Method
What is Lic
Overview
Lic is a life-insurance provider offering policies designed to provide financial protection and savings for policyholders and beneficiaries in South Africa.
Plans typically combine protection and savings elements and are issued as subscription-based policies with varying terms and benefits depending on plan type.
Key features
Policies offer life cover and may include unit-linked components (ULIPs), medical-exam requirements, and agent-supported sales and servicing.
Specific features, pricing and terms depend on the particular plan and the policy document issued at purchase.
How to cancel Lic
Standard cancellation steps
- Locate your original policy document and proof of payment.
- Prepare a written cancellation request stating policy number, policyholder name and reason for cancellation.
- Return the original policy document with the written request as required under the free-look conditions.
- Submit the request by email or post to the insurer’s servicing address or customer service channel.
- Keep copies of all correspondence and proof of postage or delivery.
App Stores, online and agent channels
- No verified, specific information was found about cancelling Lic subscriptions via the App Store or Google Play; confirm with customer service before relying on store-based cancellation.
- If you purchased through an agent or online, follow the insurer’s written-cancellation requirements and provide the same documents listed above.
- For distance or electronic sales you may have an extended free-look period - see the free-look details below.
What happens when you cancel
Policy cover and renewals
Cancellation will terminate the life cover from the effective cancellation date stated by the insurer and stop future premium collections.
Renewal options cease; if you later wish to reinstate cover you will usually need to apply anew and may face underwriting or different terms.
Records and data handling
The insurer will retain records for regulatory and administrative purposes; they should provide confirmation of cancellation and any adjustments to your account.
Request written confirmation that the policy is cancelled and details of refund processing and any deductions.
Will I get a refund?
Free look cancellation refunds
If you cancel within the statutory free-look period you are entitled to a refund of premiums paid subject to lawful deductions.
- Typical lawful deductions include a proportional risk premium, medical examination costs and stamp duty.
- For ULIPs the insurer must repurchase units at the net asset value (NAV) on the cancellation date.
Other refunds and processing time
Refunds arising from free-look cancellation are generally processed quickly; insurers commonly aim to settle refunds within approximately 7 days of receiving the cancellation request.
If cancellation occurs after the free-look period, refunds may not be available or may be restricted by policy terms; confirm with the insurer.
Lic plans and pricing
Pricing summary
No verified public pricing was found for Lic plans in South Africa in available data.
Please contact the insurer or an authorised representative for plan-specific premiums and fees.
How to obtain pricing
Request a personalized quotation from customer service or your agent, providing your age, smoking status, cover amount and any riders required.
Compare quotes across plans before purchasing to understand premium levels and any surrender or cancellation implications.
| Plan | Period | Price |
|---|---|---|
| All available Lic plans | Term varies by plan | Contact for pricing |
Your consumer rights in South Africa
Free-look period
Policyholders generally have a statutory free-look period to cancel a life policy after receiving the policy document.
Typical practice is at least 15 days from receipt, extended to around 30 days for distance or electronic sales; confirm the exact period in your policy document.
Refund entitlement and timelines
Refunds during the free-look are due subject to lawful deductions: pro-rata risk premium, medical exam fees and stamp duty.
Insurers commonly process such refunds within about 7 days of receiving the cancellation request; ask for written confirmation of the schedule.
Customer experiences
Positive feedback
No verified positive user reviews specific to Lic South Africa were located in the available data.
Individual experiences may vary depending on the agent, product and the timeliness of service.
Negative feedback and common complaints
General criticisms reported for similar LIC policies elsewhere include perceptions of low returns, difficulty with withdrawals or cancellations, and bureaucratic processes.
These issues may reflect older policy designs or local administrative practices; verify current procedures with the insurer before purchase.
Documentation checklist
Essential documents to prepare
- Original policy document (mandatory for free-look cancellations).
- Proof of payment of the premium (bank statement or receipt).
- Valid identification (ID or passport) of the policyholder.
Additional helpful items
- Written cancellation letter with policy number, signature and contact details.
- Bank account details for refund and any agent contact information.
- If ULIP, details of unit holdings or statement at time of cancellation.
Common mistakes
Failing to return the original policy document
Not returning the physical policy where required can delay or invalidate a free-look cancellation request.
Always enclose the original document and keep a copy before sending.
Missing deadlines, signatures or details
Waiting beyond the free-look window, omitting signatures, or providing incomplete bank details are frequent causes of delay.
Double-check dates, sign the cancellation request and include correct contact and banking information.
Comparative recap
Quick comparison overview
The table below summarises key differences between cancelling within the free-look period and cancelling after the free-look period.
Use this as a guide; final outcomes depend on your specific policy terms.
| Feature | Free look cancellation | After free look |
|---|---|---|
| Eligibility period | At least 15 days (often up to 30 days for distance sales) | Once free-look expires, standard terms apply and cancellation may have different consequences |
| Refund | Gross premium minus proportional risk premium, medical exam costs and stamp duty; ULIP units repurchased at NAV | Refunds may be reduced or not available; surrender value rules and penalties may apply |
| Processing time | Typically processed within ~7 days after insurer receives request | Processing time varies; may require underwriting or additional administration |
| Effect on cover | Policy treated as void from inception; cover is cancelled | Cover ends from cancellation date; past cover may affect claims or future insurability |
After cancelling
Immediate next steps
Obtain written confirmation of cancellation and details of the refund calculation and payment date.
Retain copies of all documents and correspondence until the refund is received and the matter is closed.
Where to get help
If you have disputes or unresolved refund delays, contact the insurer’s customer service or complaints department in writing and keep records of all communications.
You may also consult South African financial sector authorities or ombuds services for guidance if internal complaint channels do not resolve the issue.
Address
Mailing address
Clientèle Office Park, Corner Rivonia & Alon Road, Morningside, 2196, South Africa.
Use this address for postal correspondence and to send original policy documents when required.
Office location and contact
Visit or contact the insurer’s customer service for specific submission instructions, office hours and any required forms.
Always request a reference number for any posted documents and retain proof of delivery.