How can I ask my insurance company for a contract buyout?

I don’t think they are going to cut me off any time soon. But I could use the money that I can receive from a buyout.

Can I still send them a letter or call them and ask for a buyout saying that I need the money to pay off debt for example?

If you tell them that you need to pay the debt it probably won’t look bad in the court in case if you decide to sue them.