Letters – Free Sample Letters

Insurance in older days was only a cost. There were no other options except for pure term insurance policies where premiums were paid on a regular basis but money would come only in case of a contingency such as accident or death or damage. In today’s competitive and creative world insurance could either be a cost or an investment. Insurance companies have come up with various options wherein there are just pure term insurance plans that are only a cost and there are also insurance investment plan, which also indicate investment.

An Insurance Prospecting Letter is a tool in the hands of the market players in the insurance sector to bring about awareness of the existence of the players and products. How an insurance product is presented to the customer decides what the customer will buy. This is so only because there are so many players in the market offering a plethora of products that a customer tends to get confused if s/he is not advised about its pros and cons.

DOS AND DONTS OF INSURANCE PROSPECTING LETTER

• An Insurance Prospecting Letter should be written as soon as a product is launched in the market
• It should give all details even the minute ones about the product
• The letter should not only give the pros of the product. Even the cons should be shared.
• The information in the letter should be as transparent as possible.
• An ideal Insurance Prospecting Letter is the one that also talks about the products of its competitors and presents its own products in the light of the other ones available in the market
• The letter should however not de-mean the qualities of the products of the other players
• An Insurance Prospecting Letter should always begin with bringing about an awareness amongst its readers about the importance of insurance
• If a company is dealing with insurance products from different sectors, such as life and health then the initial introduction in the letter could be of the entire product range but the crux of the letter should be only of one kind of product
• A letter addressed to specific individuals gives a personal touch to the beginning of a relationship
• If there are any special schemes going on when the letter is sent, it should be communicated to the reader
• The tax benefits that the insurance policy is covered under should also be highlighted in the letter
• The letter should always be on the company letterhead
• It should have the name, telephone number and email address of at least one person in the company who the prospect can contact if necessary
• The letter should always be left open-ended so that there is a probability of bagging an order
• There is no scope for a grammatically incorrect letter
• Even punctuation errors are not acceptable

SAMPLE INSURANCE PROSPECTING LETTER

________________ (Name and address of reader)

________________ (Date)

Subject: Introduction of new life insurance policy

Dear Ms/Mr _____________

We are a leading insurance company and have been in the market for _______ years. In our endeavor to keep our customers satisfied we have been bringing new products with attractive options for you time and again.

We understand the value of life and are aware that so do you. It is imperative that each one of us is adequately insured so that the future offamilies is secure even when a life is not there to support.

We have on _________ (date) launched a new life insurance policy called ___________ (name of the policy). The advantages of this policy as against the other existing policies in the market are given below for your ready reference:

Please feel free to contact Ms/Mr ___________ at _____________ (phone number) for any clarifications or queries. You may also write to __________ (email address) and we assure you of a prompt response to any query.

We look forward to a long business relationship with you.

Best regards,

(Name of signing authority)

Just the way the decision to buy an insurance product is a difficult one the decision to cancel that insurance is an equally difficult one. Since insurance is actually a cost that one pays to secure any future losses and is not an investment, the decision to cancel the insurance must have been thought of as a result of a really bad experience.

The insurer or the company giving the insurance could either write an Insurance Cancellation Letter. The reasons why this letter comes around could be many, a few being:

a). Non payment of yearly premium amounts as had been mutually agreed

b). Dissatisfaction with the policy or service

c). Incorrect information given by the client at the time of taking the policy

Since the nature of the letter is very sensitive, it should be well thought of before sitting down to write it.

DOS AND DON’T’S OF INSURANCE CANCELLATION LETTER

• An Insurance Cancellation Letter should be written as soon as the decision to cancel the insurance has been taken by either party
• Since it is a very sensitive letter, it should be very carefully worded
• The tone should not sound threatening. The cancellation is taking place because of some compulsion or pressing reason, a crime has not been committed by deciding to cancel
• The letter should be short and brief
• The reason for the cancellation must be mentioned in the letter as a goodwill gesture to the other party
• Before deciding to give out an Insurance Cancellation Letter the fine print of the policy must be carefully read to ensure that the penalties are not heavier than the decision to continue with the policy
• The date on the letter must always be mentioned to confirm its origination
• An Insurance Cancellation Letter must have the date from when the cancellation needs to be effective
• An official formal letter so must always be typed rather than hand written

SAMPLE INSURANCE CANCELLATION LETTER

(This is the letter written to the client by the insurance provider)

_____________________ (Name and address of client)

______________ (Date)

Subject: Cancellation of your policy number _____________

Dear Sir/Madam,

This is with reference to your life insurance policy with us vide policy number _______________.

In the course of our random checks conducted by our surveyors’ team, it was found that the date of birth given to us on the policy was incorrect. As per clause number ____________ (details of clause mentioned in the policy), weregret to inform you that your policy stands cancelled with effect from _________ (date).

Since the policy has been cancelled before term end, the money due to you is only what was given to us at the time of taking the policy. Please find enclosed ______________ (cheque and amount details) towards settlement of your account with the company.

We regret the inconvenience caused.

Best regards,

(Name of signing authority)