If I buy insurance for 10 years and don t renew it in the second year, can I surrender the policy?

The policy can be surrendered, and the policyholder can unilaterally terminate the insurance contract, that is, the policyholder can surrender the insurance at any time and terminate the contract. Requirements and procedures for handling surrender of insurance:

1.The applicant is eligible to apply for surrender. If the insured applies for surrender, the written consent of the policyholder must be obtained, and the policyholder must clearly indicate who will receive the surrender money;

2.If the policyholder applies for surrender, the contract has been in force for two years and the premium has been paid for two years, the insurance company shall refund the cash value of the policy after receiving the surrender application, and if the policyholder has paid the premium for less than two years, the insurer shall refund the remaining insurance premium to the policyholder after collecting the insurance premium for the period from the date of commencement of the insurance liability to the date of discharge.

The surrenderer shall provide the following documents when handling the surrender:

1.If the insured requests to surrender the policy, the applicant shall provide the application for surrender with the written consent of the policyholder;

2.The insurance policy provided by the surrenderer to prove the conclusion of the contract and the proof of the last payment;

3.Proof of identity of the policyholder;

4.If the policyholder or the insured entrusts another person to handle the application on his behalf, the power of attorney of the policyholder or the insured and the identity card of the principal shall be provided.

Xueba talks about insurance, focusing on insurance evaluation! If you can do your homework and compare more when you buy critical illness insurance, if you buy the wrong one, you have to surrender the policy, so you will lose money and propertyTop 10 [Not Worth Buying] Critical Illness Insurance Points!

Surrender is refundable at any time, and the specific amount of refund can be calculated as follows: <>

It can be found that there is a loss in surrender, and the following will talk about the specific content of surrender to teach you to minimize losses!

Some friends don't pay attention to buying insurance, and they always buy it casually, but because they were too casual at the beginning, they were dissatisfied and wanted to surrender the insurance. Then you should be serious when surrendering, if you don't know what knowledge points are in surrender, it is recommended to take a look at this articleHow 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.

Generally speaking, there will be a loss if you surrender the policy, except for these two cases:

1.Cooling-off period surrender:After we buy insurance, the 10-15 days from the signing of the contract is usually a hesitation period, and if we surrender the policy within this time, there is basically no loss;

2.Sales misleading:If the salesman's operation is not standardized when you buy the insurance, and the insurance contract is not signed by the person in person, the probability of returning the entire premium is very high.

In addition, there will be a certain degree of economic loss, at this time what we have to do is to try to minimize the loss, for example, you can choose 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.

This treatment of the financial loss is less than the financial loss of surrender, but it may not be suitable for every product, this treatment is not suitable for your insurance, and it needs to be confirmed with the insurance company.

In addition,These are also key situations for surrender:

It is generally recommended to choose the time to surrender the insurance after buying a new insurance and the waiting period for the new insurance has passed, and it is best not to have the situation that the protection is interrupted due to the surrender and replacement of the insurance.

2.Health Status:If there are already certain physical problems, it is not impossible to be informed by the health of the new insurance, and surrender is not the first choice for this group of people.

3.Payment card balance:After you decide to surrender the policy, it is recommended not to deposit money in the card where the premium is paid, and withdraw the remaining money first to avoid being deducted when the premium payment period is reached.

There are many surrender details that deserve our attention, and the limited space will not be detailed, here is a very comprehensive article to share with you, and you can collect it if you are interestedWhat are the details to pay attention to when surrendering an insurance policy? Hope!

I don't want to continue paying for the insurance, can I cancel the policy? Can I get a refund for the money I paid before?

If you don't pay it, the loss will be huge.

<> if the cooling-off period has passed, only the cash value will be refunded. We can understand that the commodity is over".No reason refund".Period, it can only be sold back to the insurance company with the second-hand goods, the depreciation rate of the "second-hand", the insurance company has a clear regulation - the cash value table. The cash value generally increases with age, reaches a maximum during the period of high incidence of geriatric diseases, and then slowly declines.

In the past few years, the surrender of the policy has indeed caused a relatively large loss. That's the sunk cost, we can't ignore the past investment, and even if it creates a certain amount of distress in the future, many people are reluctant to let it go.

Under the premise of insufficient protection, I bought wealth management insurance

Low- and middle-income people have purchased this insurance, which is under-protected, expensive and low-yielding. If the annual premium paid exceeds 10% of the annual income, surrender the policy as soon as possible, so as not to waste all your hard-earned money.

I want health protection, but I buy savings insurance

Savings insurance often has fewer protection functions, and the amount of insurance purchased is generally low when the budget is limited. This situation is mostly seen offline, under the "wind blowing in the ears" of the ** people around you, this kind of situation of buying the wrong insurance should be considered to surrender the policy. Although surrender will make you lose a sum of money temporarily, but after surrendering the policy, you can really save thousands of dollars a year, and the current loss of money is not "never made up", and the money saved will be used for investment and financial management in the future, not only the loss can be made up, but also more can be earned.

Surrender the policy after the cooling-off period for new products

Don't put yourself in a "streaking" situation without insurance. There is a saying that "he who drowns in water, and he who kills his mouth". Families who are patronized by illness and go around to raise money are often families who do not have insurance coverage.

What's more, the issue of "surrender" has been involved, which shows that you already have a sense of protection. Be sure to find a replacement product and surrender the policy after the 180-day waiting period.

Check your physical condition

Here's an example. Xiao Ming finally realized that the insurance he had bought for more than ten years was not suitable, and after careful consideration, he returned the insurance. When I applied for health information again, I remembered that I had a heart attack before the Chinese New Year, but the new insurance was denied, and the old insurance was surrendered, and I was in a dilemma.

Therefore, friends who have physical examination records must check the results of the physical examination report, and if it affects the next insurance, try not to surrender the policy.

Consider the difference between the new safeguard liability and the previous one

If it is only because this product is upgraded and the new product is better, we do not recommend surrendering the policy. Because the current insurance products are updated quickly, and insurance is not like clothes, you can change it if you want to.

Evaluator reminds that insurance involves decades or even permanent protection in the future, and you need to be cautious before purchasing, don't wait until you regret it and then surrender the policy, and the surrender loss will be large after the hesitation period.

The pension insurance will not be paid for 10 years, and the money paid for the 10 years can be refunded, and only the part paid by the individual can be refunded.

Social Insurance Law of the People's Republic of China:

Article 13 Before the employees of state-owned enterprises and public institutions participate in the basic endowment insurance, the basic endowment insurance premiums that should be paid during the period of payment shall be borne by the first party.

When the basic endowment insurance is insufficient, it will be subsidized.

Article 16 Individuals participating in the basic old-age insurance who have paid contributions for 15 years or more when they reach the statutory retirement age shall receive the basic old-age pension on a monthly basis.

Individuals who participate in the basic endowment insurance and have paid contributions for less than 15 years when they reach the statutory retirement age can pay for 15 years and receive the basic pension on a monthly basis; It can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, and enjoy the corresponding endowment insurance benefits in accordance with the regulations.

Article 17 If an individual participating in the basic endowment insurance dies due to illness or non-work-related reasons, his surviving family members may receive funeral subsidies and pensions; Those who completely lose their ability to work due to illness or non-work-related disability when they have not reached the statutory retirement age may receive sickness and disability allowance. The required funds are paid out of the basic pension insurance**.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

It doesn't matter how many years of premium you have paid, as long as it has passedCooling-off periodIt is not appropriate to surrender the policyBecause surrender only refunds the cash value of the policy, which is equivalent to a part of the loss we need. When many people buy insurance, they buy an insurance policy in a daze or without considering their own financial situation, and only after paying the premium for two years do they find that there is no need to buy insurance at all, so they want to go to the insurance company to handle the surrender. Many insurance salesmen will not mention this point when selling insurance, that is, a part of the cost needs to be deducted when the policy is surrendered in the middle of the policy.

The money that can be refunded is called the cash value of the policy.

The expenses deducted are actually the service fees that the insurance company has paid to you over the years, the commission fees given to the salesman in the current year, and the cost and handling fee for handling this policy. You can also directly understand this fee as liquidated damages.

However, there is a difference between liquidated damages and the cash value of the policy. Many people think that the insurance company is unreasonable to do this, in fact, I think the insurance company's approach is really understandable, after all, they have paid so much, and the commission has already been given to the salesman, and it is impossible to get it back, so who should pay for this fee? Of course, the defaulting policyholder is required to pay.

If the policy is still in the cooling-off period, then the insurance company can surrender the policy in full unconditionally, and at most it will only deduct the cost of more than a dozen yuan. However, if the cooling-off period has passed, it is basically impossible to surrender the policy in full. It can also be seen from this that we should really think carefully when buying insurance.

How many people don't know what their insurance content is when they buy insurance, and how many people buy insurance purely because they are fooled by insurance salesmen?

When signing an insurance policy, be sure to read the contents of your insurance contract clearly, and if you can't make up your mind, you can think about it for a few days. And be sure to take into account your own financial situation and whether you can afford the cost of the policy over the years. Wait until it is fully confirmed, and then sign the insurance contract.

I don't think it's suitable to surrender the policy, you have only paid the premium for two years, and your insurance is for ten years, and it feels like a loss.

It is not suitable for surrender because the cooling-off period has passed, and you will not get much money for surrendering.

It should not be suitable for surrender, if you surrender the policy, it is not cost-effective for yourself, and you also need to charge a handling fee, and the money returned is not very much.

It is not suitable for surrender, because if you surrender the policy, you will deduct a part of the cost, and you will not be able to refund much.

Hello, the surrender method after ten years of insurance is: 1. The surrender needs to be applied for by the policyholder, and the policyholder can bring the information (the policy, the bank account in the name of the policyholder and the ID card) to the offline customer service center of the insurance company to apply for processing. 2. Go to the counter to fill in the surrender application form, and hand over the information and surrender application to the counter staff of the insurance company.

3. After submitting the Chengxun file, the counter staff of the insurance company will review and handle it. 4. After the review is passed, the insurance company will transfer the surrender money to the bank account within 7 working days. If it is necessary to entrust others to handle it, in addition to preparing the policy, the bank account and ID card in the name of the policyholder, a power of attorney is also required, which needs to have the signature of the policyholder, which is generally seen on the official website of the insurance company.

In addition, the entrusted person will need to provide an ID card. If the insurance is surrendered after ten years, the insurance company will refund according to the cash value of the insurance contract, and before surrendering, you can check how much the surrender fee is through the corresponding year of the cash value table attached to the insurance contract, or call ** to consult the customer service of the insurance company for surrender inquiry.

The insurance policy, bank card, and after the insurance company approves it, it will be refunded to the Alipay bank account within the specified time.

The second year surrender is a cooling-off period and the insurance company will only refund the cash value of the policy.

The policyholder will have a certain amount of economic loss, and the insurance liability will be terminated.

Extended information] Insurance (with crude insurance or insuraunce) is (market economy.

conditions) risk management.

The basic means are the financial system and the social security system.

[1] is also an act in which the insurer pays insurance money to the insured when the conditions of the contract are met (when the contract stipulates that the insurer is liable for compensation for the property damage caused by the occurrence of an accident that may occur due to its occurrence, or when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract).

Insurance, economically, is a financial arrangement for apportioning accident losses, legally it is a contractual act in which one party agrees to compensate the other party's losses, socially it is an integral part of the social and economic security system, and risk management is the basic method.

The object of insurance, i.e., the object of the insurance contract, is not the subject matter of insurance itself, but the insurable interest of the policyholder or the insured in the subject matter of insurance (biāodì).

An insurable interest is a legally recognized interest of the policyholder or the insured in the subject matter of insurance. This is mainly because the insurance contract does not protect the safety of the insurance object itself, but the economic interests of the policyholder, the insured and the beneficiary after the insurance object is damaged. The subject matter of insurance is only a vehicle of insurable interests.

Insurance interest refers to the legally recognized interest of the policyholder in the subject matter of insurance. Usually, the policyholder will suffer economic losses due to the damage or loss of the insurance object, and obtain income because of the preservation of the insurance object. An insurance interest can only be established if it is legally recognized, economic, definite and not expected.

Generally speaking, the insurable interest of property insurance exists at the time of the insured event, at which point the loss can be compensated; The insurable interest of life insurance must exist at the time of conclusion of the insurance contract to prevent moral hazard.

Take life insurance as an example, the policyholder has unlimited insurable rights and interests in himself and his spouse, in some countries and regions.

If the policyholder and the insured are related by blood, it can also constitute an insurable interest. In addition, the creditors also have an insurable interest in the debtor who has not repaid the loan.