Hello my name is Vic Schumacher with HPE Financial
Services. I’m an insurance broker representing a variety of companies. Today we are going
to talk about how does the consumer change insurance policies or insurance carriers.
Well they can change it or the company can change it. A consumer can stop making a premium
as an example, that will stop the policy and the policy will lapse. The consumer can pick
up the phone and call the insurance company at any point in time and stop the policy,
tell them you want to cancel the policy. An insurance consumer can call the agent and
have the agent do it for them if they don’t have the desire to talk to the company themselves.
Just because you have an insurance policy or a contract with the company doesn’t mean
that the consumer has to follow through the entire time and wait to the policy renews.
You can cancel at any particular point in time. The insurance company doesn’t want to
cancel you, if you stop your premium they will. Because they are making money from the
program and the premiums that you are making to them. But the consumer, the consumer can
stop the policy at will. They can start it, they can stop it, they can raise it, they
can lower it. My name is Vic Schumacher, HPE Financial Services helping people every day.