I recently got a letter from the insurance company asking me to reinstate my insurance plan which I already forgot I have, they are asking me to pay a big amount for arrears and penalty fee. Since I already am living in a different country and have no desire to pursue this insurance plan, what should I do to make them stop asking for more money?Can somebody please advise me on what to do with a lapsed pension plan if i don't want to reinstate it?
Write to them and tell them you wish to cancel this policy and forfeit all rights to any monies due.
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