CANCELLATIONS

The lender should advise Genworth as soon as the loan has been fully repaid so that the policy can be cancelled in our system and any refund due calculated. Please include your loan number, Genworth reference number, the borrower name and the date of the final payment.

• separate arrangements are in place with the lender for a reduced premium rate in lieu of taking premium refunds.
• the loan is repaid within one year of the maturity date of the mortgage; or
• the notification of cancellation of the policy is received by Genworth more than 3 months after repayment of the insured loan; or
• the refund amount is less than $150.00; or
• a loss has eventuated; or
• the loan has been reported to Genworth to have had arrears.
  

Any enquiries made to Genworth from borrowers regarding refunds will be forwarded to the Lender to address.

See the below for the current refund rate table, which is subject to change from time to time:

* Based on the total LMI premium paid less any rebate paid to the lender.

The most efficient option for sending discharge / cancellation details is to email your data to the dedicated Customer Service team at cancellations.au@genworth.com. The team can also be contacted on 1300 655 422 (AUS) or via our NZ office 0800 601 702. As long as all of the required data fields (see below) are submitted, hardcopies of cancellation forms do not need to be submitted.

If you can provide the Genworth LMI # the data fields required for a policy cancellation are:

Genworth LMI number

• Your reference number

• Discharge date

• Borrower name

• Borrower address

• Your contact name

• Your contact address
  

If you are unable to provide the Genworth LMI # the following data fields are required:

• Your reference number

• Borrower name

• Borrower address

• Security address and postcode

• Loan amount

• Discharge date

There are two ways to send cancellation requests - as a batch, or individually.

If you would like to send cancellation requests as part of a batch please use the Batch Policy Cancellation spreadsheet.

If you would like to send a request to cancel an individual policy, please use the Policy Cancellation form.

Policy cancellation request

Batch cancellations request 

For further details please contact Genworth on 1300 655 422 (AUS) or 0800 601 702 (NZ) between 9am and 5pm Monday - Friday or by email at cancellations.au@genworth.com, or contact your local Genworth sales representative.