How to apply for a surrender without incurring a loss10

Insurance is not the best investment tool, so it is understandable for the policyholder to surrender the policy if he is confident that he has a better way to invest and has calculated the cash value of the policy and thinks it is affordable. However, for some traditional long-term life insurance, the author does not recommend making rash surrender, because these pure protection types of insurance, the products of various companies are also similar in terms of **, and it is really not worth it to bear surrender losses for the sake of slight differences.

In the case of an unaffordable insurance policy or an urgent need for cash, insurance companies generally recommend the following measures to deal with surrender, and policyholders should ask carefully when making a surrender decision.

Trick 1: Use the grace period to postpone the payment date appropriately.

For example, New China Life has a grace period for long-term life insurance products, which is generally 60 days, and you can pay the premium on any day during this grace period. If the premium cannot be paid within 60 days, the two-year grace period can still be used, but within two years, the policy is invalidated, and the policyholder can apply for reinstatement of the policy when he or she is able to pay, and all the validity will remain unchanged.

Trick 2: Use the policy pledge loan.

Within the cash value of the insurance policy, the policyholder can apply for a policy loan at any time to the bank that cooperates with the insurance company without the need for a guarantor. Generally, participating insurance can borrow up to 90% of the cash value, while life insurance policies over two years old can borrow up to 70% of the cash value.

Trick 3: Use automatic advance insurance premiums.

If the cash value of the insurance policy is greater than the current insurance premium and interest payable, and the policyholder has agreed to this in advance, the insurance company will automatically advance the renewal premium due in order to continue the insurance effect. Policyholders should make the most of this clause when applying for insurance.

Trick four, apply for a reduction to pay off the insurance.

If you reduce the amount of insurance, you will no longer have to pay premiums, and you will continue to enjoy insurance protection.

Trick 5: Shorten the term of insurance.

During the shortened insurance period, you will still enjoy all the benefits stipulated in the original policy.

This situation should be the problem of the person who sold your insurance, he is not responsible, you should also choose a good ** person when you buy insurance, now if you want to surrender the insurance, I don't know what kind of insurance you bought, but generally one year is not refundable, you can apply for a policy loan, probably can loan a part of the money, you can add me q to say. I'm a Prudential Insurance Advisor.

After the cooling-off period, there is a loss in surrendering the policy.

Xueba talks about insurance, focusing on insurance evaluation! When buying critical illness insurance, it is best to compare several products, and seriously consider it, if you end up buying the wrong one and want to surrender the policy, it will not be good, just like these critical illness insurance, most of you will regret it if you buy it sloppilyTop 10 [Not Worth Buying] Critical Illness Insurance Points!

There are only three cases in which the policy is surrendered without loss

Cooling-off period: Generally, there is a cooling-off period when buying insurance, and the surrender of the policy within the cooling-off period can be refunded in full, and the labor cost will be deducted.

Signature: Because the salesman does not standardize the operation, the signature of the insurance contract is not the signature of the person, in this case, the application for surrender can be returned in full.

Some people don't think carefully about buying insurance, they buy it casually, and finally regret it because they didn't think it through at the beginning and want to surrender the insurance. Surrender is also a big deal, can not be casual, if you decide to surrender, you may wish to take a look at this article and then operate the surrender of the matter".How to surrender insurance, how much can be refunded, and how to reduce surrender losses?

The article is very detailed, here are a few points to briefly say.

Under normal circumstances, the premium cannot be fully refunded if the policy is surrendered. A part will be lost, except in these two cases:

1.Cooling-off period surrender:About 10-15 days after the purchase of the insurance, it is generally called the hesitation period of the insurance, if you surrender the policy within this time period, the probability of getting back the full premium is almost 100%;

2.Sales misleading:If the salesman is misleading about the signing of the contract when you first buy insurance, and the signature of the insurance contract is signed by someone else instead of yourself, the chance of returning the entire premium is very high.

If it is not for these two special circumstances, it will inevitably bring economic losses, and minimizing economic losses is what needs to be done at this time, such as choosing to reduce the amount and pay it off:

That is, the money is not refunded, but the current cash value is used as the premium to be paid, how much can be insured, and no further payment will be made in the future, and the protection will still be effective, but the sum insured will be reduced.

This is more cost-effective than surrendering, but this method is not available for every insurance, and whether this plan can be implemented depends on what the insurance company says.

In addition,There are also these points that you have to pay attention to when surrendering the policy

2.Health Status:If you are not in good health, you may not be able to pass the health notice of the new insurance, and the risk of surrender is quite large.

3.Payment card balance:If you are ready to surrender the policy, it is best to take out or transfer all the money in the bank card used to pay the insurance premium, so that there will be no situation where the policy has not been successfully surrendered and the money will be deducted when the payment period is reached.

In fact, there are many surrender details that are worthy of our attention, and we can't finish talking about them in a few words, if you need it, you can take a look at this article, and the relevant points have been sorted outWhat are the details to pay attention to when surrendering an insurance policy?

As long as you want to surrender the policy, there is no reason for you not to lose, and it will inevitably give you a small amount back.

After the cooling-off period, you will lose money for any reason, unless you are gone.

The insurance is refundable, but whether there is a loss depends on the circumstances.

If it is in the hesitation period.

There will be no financial loss if the policy is surrendered. Once the surrender is confirmed, the insurance company will refund all premiums paid and terminate the insurance contract. If the policy is surrendered after the cooling-off period, the insurance company will only refund the cash value of the policy.

Instead of having paid the full premium.

The cash value generally refers to the surrender amount of a life insurance policy. In life insurance with a longer insurance period, a certain amount of liability reserve is accumulated under the policy due to the use of a single premium or a balanced net premium system. If the insured requests to surrender the policy, the insurer deducts a certain surrender fee from the liability reserve, and the balance is returned to the insured or the policyholder as a surrender payment.

A single premium life insurance policy can be surrendered at any time to receive the surrender benefit. For a life insurance policy that pays premiums in installments, you can surrender the policy at any time to receive the insurance benefits after one or two years of payment.

The way to cancel the insurance is as follows:

2. Explain the reason and time of surrender to the insurance company, and submit the surrender materials according to the requirements of the insurance company;

3. After reviewing the surrender application, the insurance company will issue a surrender approval and withdraw the policy at the same time;

4. The surrenderer shall hold the surrender approval form and ID card and receive the refundable insurance premium through the channel designated by the insurance company.

What documents do I need to bring for the insurance refund?

The documents that need to be brought to return the insurance generally include:

1. Valid identity certificate of the policyholder;

2. Application for surrender, that is, application for termination of insurance contract;

3. Proof of last premium payment;

4. Insurance policy; 5. If you entrust someone else to handle the surrender, you generally need to provide a power of attorney and a valid identity document of the entrusted person.

Legal basis: Article 50 of the Labor Contract Law of the People's Republic of China.

Obligations of both parties after the dissolution or termination of the labor contract] The employer shall issue a certificate of dissolution or termination of the labor contract upon the dissolution or termination of the labor contract, and complete the formalities for the transfer of the employee's file and social insurance relationship within 15 days.

The worker shall handle the handover of work in accordance with the agreement between the two parties. Where an employer shall pay economic compensation to an employee in accordance with the relevant provisions of this Law, it shall do so at the time of completion of the work handover.

The employer shall keep the text of the labor contract that has been dissolved or terminated for at least two years for future reference.