Required to terminate an insurance policy. Formally speaking, termination is a unilateral declaration of intent, requiring acknowledgement of receipt, to terminate an insurance contract with future effect. A distinction is made between the following types of termination:

• → ordinary termination
• → termination without notice

As a general rule, notice of termination may be given by the → policyholder and through the → Insurer be pronounced.

Source reference: See the VDT publication “VDT Article Series, Part 5 | Glossary“ and the source cited there.