What kind of losses may I face if I surrender the policy?

1. Surrender will inevitably lead to economic losses. Only the cash value of the policy will be refunded when the policy is surrendered after the cooling-off period, and the sooner the policy is surrendered, the less the surrender benefit will be received, especially if the premium has not been paid for two years.

2. The standard of re-insurance payment will be increased. Generally speaking, the older the insured is, the higher the payment standard for the same type of insurance, and if the policy is surrendered and re-insured, the insurance premium will be paid more due to the increase of age.

3. The protection liability is lost with the surrender of the policy. As a result, the policyholder's original insurance rights and interests are lost, and the insured will not be able to obtain various protections in a timely manner in the face of risks that may occur at any time.

4. Re-insurance will be subject to certain restrictions. If you reconsider applying for long-term life insurance due to surrender, the waiver period for death from illness, disability due to illness or suicide as stipulated in the policy terms will be recalculated. If the insured suffers an insured event during the liability waiver period, the insurance company will not compensate the policyholder.

5. You may be denied insurance when you re-insure. Certain life insurance terms are provided that the insured person is in good health and not under the required age. If you surrender your policy and then apply for insurance, you may be denied coverage due to a change in your medical condition or exceeding the required age, thus losing your right to insurance coverage.

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Elephant Insurance Answer: Arbitrary and capricious surrender can cause a lot of losses to yourself. 1.

Surrender is likely to result in an unintentional, unexpected, unplanned loss of economic value to you financially. 2.If you surrender the policy and re-apply for the policy, especially after a certain period of time, you will pay more premiums due to your age.

3.If you surrender the policy and consider taking out a new long-term life insurance policy, the liability waiver period will be recalculated. If the insured event occurs during the liability waiver period, the insurance company will not compensate the policyholder.

4.If you surrender the policy, you may be denied coverage due to a change in your medical condition or exceeding the required age.

Xueba talks about insurance, focusing on insurance evaluation! Critical illness insurance cannot be bought casually, it should be carefully chosen according to the demand, and do not regret wanting to surrender the policy after buying the wrong one in the end, which will cause economic lossesTop 10 [Not Worth Buying] Critical Illness Insurance Points!

Many people buy insurance casually, and when they are not satisfied with the insurance they bought, they want to surrender the insurance. Surrender is also a matter that needs to be carefully considered, carelessly, the key knowledge points of surrender are not to know when surrendering, see this article for detailsHow 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.

Normally, you will not get back the full amount of the premium you paid if you surrender the policy, but this will not be the case in either case

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 insurance contract is not signed by the person in the first place, the probability of returning all the premiums is very high if the salesman does not sign the insurance contract in the first place.

In addition to these two situations, it will inevitably bring economic losses, so a way to reduce losses is very important, such as the option to reduce the amount of payment:

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 will be less than the surrender loss, but this option is not suitable for every insurance product, and you need to confirm with the insurance company whether the contract has this function.

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

After buying a new policy, wait until the waiting period has passed to return the old policy to avoid interruption of coverage.

2.Health Status:If your health is not very good, it is very likely that you will not be able to pass the underwriting of the new insurance, so the risk of surrender is quite large.

3.Payment card balance:After you decide to surrender the policy, it is recommended to clear the balance in the bound payment card, if the policy has not been surrendered successfully, it is likely that you will be deducted when the payment period arrives.

Regarding the surrender, there are still a lot of details that need to be paid attention to, here are not one by one, if you need it, you can take a look at this article, the relevant points are sorted out".What are the details to pay attention to when surrendering an insurance policy? Hope!

In general, there will be losses. The specific amount of loss can be found in the cash value table or account value table in the insurance policy to see the corresponding cash value for each year, which is almost the money that can be returned by surrendering the policy.

If you find a new product that is more cost-effective and has better protection, is it necessary to surrender the policy? What do I need to pay attention to when surrendering the policy? Welcome to click**View! For more insurance or social security related questions, please send me a private message

Very much, you see that there is a cash value table on your policy, and the refund is this money, if not, Liu hit the customer service and asked directly.

I don't want the insurance I purchased, how do I surrender it? Is there any loss in surrender?

Surrender of insurance will result in the following losses:

1. Loss of premium, hesitation period.

Waiver is not refundable in full, only the cash value.

The cash value is less than the premium;

2. Loss protection, surrender will lead to interruption of protection;

3. Delay the new insurance time, if you buy other insurance after surrender, you need to re-underwrite, wait period, and need time to transition.

Premiums are closely related to the age of the insured, and the older you are, the more expensive the premium. Some people want to re-insure after a few years after surrendering the policy, but at this time, due to the increase in age, the same policy has to pay more premiums than a few years ago, and the protection time is shortened.

Some people want to re-insure as they get older, have health problems, and want to re-insure them. However, buying insurance requires a physical examination or health notification, and if some physical indicators are abnormal at this time, the insurance company will ask to add exclusions, or even directly refuse to insure, thus losing the opportunity to obtain insurance protection.

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.

After buying insurance for a period of time, I feel that the product is not suitable for me, and I want to surrender the policy, but I can't get the money back! What is the reason for this?

Surrender is mainly divided into hesitation period surrender and non-hesitation period surrender, and the refundable premiums of the two are different. The following is the percentage of premiums to be deducted:

1. Surrender during the hesitation period.

Insurance companies will give consumers a certain amount of protection, for example, long-term insurance is set up with a hesitation period of 10-15 days, during which the surrender of the policy only needs to deduct the cost of production, and the sum insured can be refunded in full.

2. Surrender during the non-hesitation period.

If the policy is surrendered during the non-hesitation period, the user will lose money and will only get the cash value of the insurance. Long-term insurance usually presents the cash value in the insurance contract, so you can clearly see how much money you can get back after buying the insurance and surrendering the policy in a certain year. Usually, about 20%-30% of the principal will be deducted for surrender, and 50%-80% will be deducted if it is higher.

Answer: Surrender can be a great loss to the customer, especially in the first few years of the policy. Because the operating expenses of the insurance company and the commission paid to the salesman will be deducted from the premium income of previous years, the loss of customer surrender will be large.

If the customer surrenders the policy within the first year of insurance, the critical illness insurance loss is about 80%; The loss of pension and wealth management insurance is about 50%, and the loss of investment-linked insurance is about 10% in the absence of investment losses; The loss of one-year accident insurance and short-term travel insurance is about 90%, and some insurance companies even do not refund the premium for short-term insurance.

The second type of insurance is better.

Ask a question of 70,000 for one and 100,000 for one

I think it's 700,000.

In this way, there is not much difference between the two.

100,000 is also more to pay every year.

Question: Teacher, my family has bought Pacific Comfort Million, what do you think of this insurance?

The premiums are about the same, and Taiping Life Insurance has an early payment function.

Surrender = breach of contract, because insurance is a paper contract, an agreement between us and the insurance company. If you want to terminate early, you will have to bear some losses. Specifically, only part of the premium we paid before can be returned, and the part that can be returned is called "cash value", and there is a cash value table when buying long-term insurance, and the general cash value increases with the increase in payment time.

1. What is the cash value: what is the cash value? It is the surrender amount indicated in the policy when the policy is worth a certain amount of time.

The policy is based on the value at the end of a policy year, and the actual cash value is calculated for the specific surrender amount. As anyone with an insurance policy knows, the cash value increases over time, and the higher the income you earn.

2. The upfront cost is high, and the surrender price is small: the cash value is small, calculated from the perspective of cost accounting: surrender money = premium paid by the customer - operating cost - protection cost - service cost.

As can be seen from the accounting formula, the surrender benefit is the premium paid by the customer, minus 3 costs, so in this way, in the end, its macro and pure slippery are not much.

3. The service cost of the insurance company to obtain the premium in the early stage is high, and the protection insurance also needs to withhold the cost of covering, that is, to reserve the reserve fund for individual insurance customers.

1.Suffer financially.

2.When reinsuring, the standard of payment tends to increase.

3.Upon surrender of the policy, the original benefit will be lost.

4.There may be certain restrictions on insurance benefits when re-insured.

5.You may be denied coverage when you re-insure.

When the protection is gone, most of the money cannot be refunded if it is not paid at the end of the period, and only a small part is the cash value of the policy.