Can I get a full refund if I surrender the insurance after I have paid it for a full number of years

Xueba talks about insurance, focusing on insurance evaluation! When buying critical illness insurance, you should pay attention to careful comparison, not careless, and reduce the probability of losing money due to regret surrenderingTop 10 [Not Worth Buying] Critical Illness Insurance Points!

If you buy this insurance for a longer period of time, then there should be some loss when you surrender the policy, and you should refer to the cash value table on the policy. There is a cash value indicated in it for the corresponding years, so you can check it yourself.

Some people think that the insurance is almost just a matter of buying it, but later they regret it and want to surrender it. Surrender is also a matter that needs to be carefully considered, carelessly, what are the points that need to be carefully considered? Take a look at this article and you'll find out".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.

Surrender often means loss regardless of premium, except in these two cases:

1.Cooling-off period surrender:There will be a hesitation period after buying insurance, generally in 10-15 days, and if you surrender the policy within this time, there is basically no loss;

2.Sales misleading:If the contract is signed under the non-standard operation and misleading operation of the salesman, and the insurance contract is not signed by the person, it is very likely to get back all the money.

In these two cases, it is inevitable that there will be losses, and at this time reducing the losses is the only thing we can do, such as choosing to reduce the amount to pay 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.

Surrender is not as cost-effective as this, but this method is not available for every insurance, and whether the insurance can be handled in this way needs to be confirmed with the insurance company.

In addition,There are also several situations that need special attention when surrendering:

It is best to choose the time to surrender the insurance after the waiting period of the new insurance has passed, so as not to interrupt the coverage due to the surrender and renewal.

2.Health Status:If your health is not very good, then the health notification of the new insurance may not be approved, so it may be difficult to buy other benefits after surrendering, so it is not recommended to return.

3.Payment card balance:If you have made the decision to surrender the insurance, you should clear the bank card that was originally bound to pay the insurance premium, so as not to be deducted again when the payment period is reached.

In fact, there are many details of surrender that we have to pay attention to, here I am not convenient to come out one by one, if you want to know more, you can take a look at this article".What are the details to pay attention to when surrendering an insurance policy? Hope!

If you can't refund the full amount, the insurance is not cost-effective as long as you pay it and then refund it.

Surrender refers to the surrender of the policy for some reason in the course of the insurance process, which is called mid-term surrender in insurance terms. For ordinary mid-term surrender, the insurance company will pay the cash value.

to surrender the policy. Because there is a large gap between the cash value and the premium paid by the consumer, it can sometimes lead to the loss of more than 50% of the principal. The insurance premium payment method refers to the way in which the insured or the policyholder pays the premium to the insurer.

There are two ways to pay the life insurance premium: single payment and installment payment.

Single payment is that the policyholder will pay the premium at one time, this payment method, requiring the policyholder to pay a large amount of premiums at one time, the general policyholder is difficult to afford, so the vast majority of policyholders use the way of installment payment. Instalments are generally paid annually, semi-annually, quarterly or monthly, and there are many ways for policyholders to choose according to their career stability and income.

The surrender method of insurance for full years is the same as the surrender method for unpaid years, and the general surrender process mainly includes the following steps, as follows:

1. The surrenderer should first call the commercial insurance insured by the policyholder.

or go to the customer service center of the local insurance company to apply for surrender, because not all cases can go through the surrender procedures, such as the policy that has received the insurance money, it is not possible to apply for surrender.

2. The staff of the insurance company will inform the surrenderer what materials need to be prepared when applying for surrender, generally including the ID card of the policyholder.

Originals, bank accounts, insurance policies, etc. Of course, the policyholder can also log in to the official website of the insurance company to check what materials should be prepared for surrender.

3. The surrenderer shall bring the required materials to the major service outlets of the insurance to go through the surrender procedures, and the policyholder shall fill in the application form for termination of the contract before surrendering.

Submit the insurance contract and the legal identity certificate of the policyholder, and at the same time the insurance company will withdraw the surrender of the policy, and then the refund will be sent to the policyholder's bank card account according to the agreed time, generally about 3-5 working days The funds will be in the account, and the policyholder will pay attention to the collection at that time.

In addition, it is not surprising that the surrender of the policy can result in a full refund of the premium. If surrendered, this is in"Cooling-off period"The insurance company will refund the premium in full. However, if the surrenderer exceeds the cooling-off period and surrenders the insurance contract after the insurance contract takes effect, this is a unilateral request to terminate the insurance contract, and the law specifically gives the insurance company the right to terminate the insurance contract, and the insurance company will surrender the policy according to the value of the policy.

That is, the cash value.

Conducted"Surrender", the insurance contract is terminated.

There are several situations to pay attention to when surrendering the policy:

It is best to choose to withdraw the insurance after the waiting period of the new insurance has passed, and do not let the coverage be interrupted.

2.Health Status:

If you already have certain health problems, there may not be a way to inform you of the health through the new insurance, and we generally do not recommend surrendering the policy in this case.

3.Payment card balance:

If you have made the decision to surrender the policy, you should check the bank card used to pay the premium, do not deposit any more money in it and take out all the remaining money, so that Zeyan can avoid the situation of being deducted after surrendering, and save the time to negotiate with the insurance company.

At present, all insurance companies have to go to the counter to handle it, if there is no counter in the local area, it has to go to other cities to handle it, but large companies basically have counters all over the country.

No. As long as it is within the validity period of the policy, you can refund it at any time, without waiting for one year. It is the right of the policyholder to surrender the policy, and if the policy is surrendered, the policyholder should bring the policy and ID card.

If it's life insurance.

If you don't pay the premium to surrender the policy, you can go at any time; Property insurance, such as the surrender of car insurance, the best thing to do is to go before breaking the insurance, because car insurance is generally bought for one year and guaranteed for one year, and then surrendered after the expiration date, and there is no money to get back.

Extended information, life insurance policy surrender is divided into a cooling-off period.

The normal surrender and hesitation of the surrender period:

1. After the cooling-off period, the normal surrender of the policy is only the cash value of the policy.

After the hesitation period, friends who want to surrender the insurance will have to bear a certain amount of economic losses. In this case, the insurance company will only refund the cash value of the policy (also known as the "cancellation refund" or "surrender value"). , i.e., the amount that the insurance company needs to refund when the policyholder terminates the contract according to actuarial principles.

2. During the hesitation period, almost all the premiums can be refunded.

If the policy is surrendered within the cooling-off period of the product, there is almost no financial loss, and the insurance company will repay the entire premium paid by the policyholder without interest. Some companies or products will charge 10 yuan or 20 yuan for the production cost, and in general, they can achieve a "full refund".

Test your anti-risk index, experts will interpret it for you for free!

Generally, you can surrender the insurance when you buy your insurance regret period, and the regret period, or hesitation period, is different for each insurance, and it is generally stated in the contract when you buy insurance.

1. The expiration date of long-term insurance does not mean that the surrender of the policy can be fully refunded. The amount of refund depends on the cash value of the insurance product.

2. According to the insurance contract, if the applicant withdraws after the cooling-off period, the insurance company will only refund the cash value of the policy.

3. Cash value is a professional term in the insurance industry, which can also be called "termination refund", which refers to the value of a life insurance policy with a savings nature, and can also be regarded as the surrender amount of the policy. Some insurance products have a higher cash value, and the policyholder surrenders the policy after the expiration of the insurance period, and the cash value is the same as the investment principal, or even higher than the principal; If the cash value of some insurance products is low, the policyholder will surrender the policy after the expiration of the insurance term, and the insurance company will return less than the principal.

Further information: 1) There are only two types of complete surrender: one is surrender during the cooling-off period.

Long-term insurance companies on the market today generally have a hesitation period of more than 15 days. If the applicant feels that the product is not good during the hesitation period and chooses to surrender the policy, the insurance company will refund the insurance premium paid in full and may deduct more than 10 yuan of production costs. The second is that they are misled by sales and want to surrender the policy.

If the cooling-off period has passed, the policyholder can only surrender the policy in full if there is a violation in the sale of the insurance. You can judge based on the following six situations: During the sales process, does the salesman promise to return cash or give discounts?

Are documents such as application notices, insurance contracts, etc., signed in person? Have you received a follow-up**?

2) At present, there are many cases of "** surrender" in the market, claiming that full surrender can be achieved. Here I would like to remind everyone that "** surrender" has no technical content. The core is to pay attention to "insurance sales violations" and complain to the CIRC with evidence of so-called violations.

Under pressure from the CIRC, insurers generally chose to compromise and eventually get a full refund. Moreover, the number of people looking for surrender is particularly high, and the money received by the surrenderant will not be much higher than the cash value. There may also be risks such as loss of funds or fraud, leakage of personal information, and loss of normal insurance protection.

However, with the strengthening of supervision, the behavior of insurance sales is becoming more and more standardized, and there are fewer and fewer illegal acts.

I want to buy horse goods, I can fully surrender the policy within one year, because there is a one-year return period, and the insurance can be fully surrendered within one year after the purchase of this insurance, because there is a one-year regret period, and you can freely choose to surrender the policy within such a time.

This question depends on what type of insurance you have, but even if the premium is paid at the end of the term, once the policy is surrendered, although the insured amount can be refunded, but at the same time, the insurance will lose its effectiveness!

In fact, this kind of capital-protected insurance is not as good as the interest rate in the bank.

Which product are you buying? Usually it is stated in the insurance policy.

If you don't pay enough, you can also refund, and consumers have the right to surrender the insurance at any time.

How much can I get refunded? How to inquire about refunds: Call the customer service of the insurance company** to ask how much money you can refund. Note: Don't ask the insurance salesman how much money he can refund, the insurance salesman can't find it, only the official customer service of the insurance company can find it.

Just because you pay the premium in full does not mean that you will be able to get all the money back. Take critical illness insurance as an example, pay 3,000 good covers every year, pay for 20 years, pay a total of 60,000, but only about 40,000 can be refunded in the 20th year, and the loss of shouting socks is usually very large!

Surrender loss:

1) Cover for losses.

Most of the users who want to surrender the insurance want to change the product, so they should pay special attention to the health notice and waiting period. If your physical condition is not as good as before, you may face additional fees, exclusions, or even denials if you re-insure. Re-insuring will also recalculate the waiting period, and if you blindly surrender the policy, you will not be able to make a claim if an insured event occurs during this period.

So, even if you are already planning to surrender the policy, don't do it right away. The safest way is to buy new products first, survive the waiting period, and then surrender the old products, so that they can be seamlessly connected.

2) Monetary loss.

Long-term insurance products have a hesitation period, generally 10-15 days. There is no loss when the policy is surrendered during the hesitation period. However, if the hesitation period is passed, and then surrender the policy, there will be losses.

The surrender amount is often lower than the premium paid, especially if the policy is surrendered in the first few years after the purchase, it is really possible to pay 20,000 yuan and refund 2,000.

3) The risk of secondary insurance.

As you get older, if you want to buy another insurance after surrendering your policy, you will face a number of problems, such as increased premiums and poor health. Once the coverage is lost, it is possible that it will be insulated from insurance for life, and there will be no regret pills again.

After understanding these surrender risks, we should consider whether to surrender the policy.

Under what circumstances can the policy be surrendered? 】

1. The products I bought before are really pitfalls, and the more you pay them, the greater the loss;

2. In good physical condition, the purchase of new products will not be increased, excluded or denied insurance;

3. The premium saved is much more than the surrender loss.

If all three points are met, it is recommended to surrender the policy, and there is no need to refund in other circumstances. When you buy insurance, it is best to choose the right product at the beginning, and then surrender the insurance after buying the wrong one, which is really not cost-effective. I hope mine can help you, you don't understand insurance, feel free to ask me.