In plain English
This means stopping the insurance cover early, before the policy's planned end date. After that, the policy is no longer active.
In context
Here, “cancel policy” labels the account action for ending the current insurance policy before its term ends.
- Situation
- Renewing, changing, cancelling, and retrieving policy documents
- What it communicates
- labels an account action for ending the current policy
Meaning limits
The term alone does not establish whether the policy can be ended in a particular case or the exact timing of that ending.
Examples
“After selling the car, he cancelled the insurance policy three months before the annual term ended.”
“To stop the current insurance early in the account, select Cancel Policy.”