Can I Cancel Burial Insurance and Get My Money Back?

You're never locked into a burial insurance policy. Here's what happens when you cancel:

Free Look Period (Full Refund)

Every state requires a "free look" period — typically 10-30 days after receiving your policy. During this time:

• Cancel for any reason
• Receive a full refund of premiums paid
• No penalties, no questions asked

After Free Look Period

Once the free look period ends, cancellation works differently:

• Cash surrender value — Whole life policies build small cash value over time. After a few years, you may receive a portion back if you surrender.
• Premiums are not refunded — The premiums you've paid for coverage are considered "used" — you were covered during that time.
• Coverage stops immediately — Once cancelled, you're no longer insured.

Alternatives to Cancelling

• Reduce coverage — Lower your death benefit to reduce premiums
• Paid-up policy — Some carriers let you stop paying and keep a reduced death benefit
• Take a loan — Borrow against cash value without cancelling

Before cancelling, consider: if your health has declined, you may not be able to get new coverage. Think carefully before giving up existing insurance.