Midterm Cancellation

All Medicare supplement and Medicare select policies include the right to a pro rata refund of premium if you want to cancel a policy before the end of a term. All you need to do is to send your Medicare supplement or Medicare select policy to the insurance company with a letter requesting cancellation. The insurance company is required to send you a pro rata refund of premium. The right to midterm cancellation does not apply to Medicare cost or Medicare Advantage contracts.