Long term life insurance contract surrender, whole life insurance can be surrendered?

Hello, according to the provisions of China's insurance law, there are several circumstances for the termination of the life insurance contract, one is that the policyholder terminates the contract before the end of the hesitation period from the beginning of filling in the insurance policy to the end of the hesitation period, and the insurance company refunds the premium; One is that the policyholder terminates the contract after the cooling-off period, and the insurance company only refunds the cash value of the policy; The insurer terminates the contract due to the policyholder's failure to perform the obligation to truthfully inform; Termination of the contract due to the insurer's performance of insurance obligations, etc. There is no specific definition of revocation of insurance contract and surrender in law, and it is generally understood that the termination of the contract by the policyholder after the hesitation period from the beginning of filling in the insurance policy to the end of the hesitation period is called the cancellation of the insurance contract, and the termination of the contract by the policyholder after the hesitation period becomes surrender.

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Some people don't think carefully about buying insurance, so they buy it casually, but in the end, they feel that the insurance they chose is not satisfactory and want to surrender it. If you don't know the knowledge of surrender, you can read this article to learnHow 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, a certain amount of premium will be lost when the policy is surrendered, but there are two exceptions:

1.Cooling-off period surrender:About 10-15 days after the purchase of insurance, it is generally called the hesitation period of insurance, and surrendering the policy within this period will generally not cause the loss of premiums;

2.Sales misleading:If the contract is signed under the non-standard operation and misleading operation of the salesman, it is possible that the insurance contract will not be signed by the person and the entire premium will be refunded.

In addition to these two situations, there is a part of the money that basically cannot be recovered, and it is good to minimize the economic loss, such as the option 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 it may not be suitable for every product, and the specific situation needs to be confirmed with the insurance company.

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

It is best to choose to cancel the insurance after the waiting period of the new insurance to avoid the interruption of coverage.

2.Health Status:If you have been diagnosed with a disease that you did not have before, it is likely that you will not be able to pass the health notification of the new insurance, and it is not recommended to surrender the policy in such a case.

3.Payment card balance:If you are ready to surrender the policy, it is best to take the money from the bank card where the premium was paid to avoid being deducted again when the premium payment period is reached. Hope!

Can premium whole life insurance be surrendered?

01 First of all, I want to tell you here that you can buy any insurance, no matter what type of insurance you have, you can surrender the policy, so don't worry too much.

02 In fact, in general, the cost performance of whole life insurance is quite high, and there is a protection that is very good for both individuals and families.

03 Also, I personally do not recommend you to surrender the insurance here, because it is you who will be damaged in the end, because the relevant provisions on surrender in the insurance contract are not conducive to you.

04 Therefore, everyone is insured in order to obtain long-term income, if you surrender the insurance, your loss is very large, and it is impossible for people to surrender the insurance in full, so you should be cautious in your choice before applying for insurance, which is responsible for yourself.

The insurance generally has a hesitation period, after which the cash value of the policy can only be surrendered, and it is generally not recommended to surrender the policy.

If the policyholder terminates the contract, the insurer shall, within 30 days from the date of receipt of the notice of termination, return the insurance policy in accordance with the contract.

The cash value. And "cash value". Many users are not very aware of the calculations. The cash value of the policy.

The premium paid - the insurance company's management fee - commission - net premium + the interest generated by the remaining premium in the early stage of insurance, and in the early stage of protection, the insurance company's management fee and the salesman's commission cost are very high, and the interest is low, so the cash value of the policy in the first few years after insurance is relatively low.

In order to protect the rights and interests of users, there is generally a cooling-off period for long-term insurance.

That is, if the policy is surrendered during the hesitation period, a small amount of the cost will be charged at most, and the insurance company will refund the premium in full, and during this period, there is basically no loss for the user.

Therefore, remind the big loss to shout home, after the insurance, you should also be cautious about your policy during the hesitation period, if you regret it, you must surrender the policy in time, otherwise the loss will be great. Round wheels.

Legal Analysis: Determined by the actual situation. After the insurance contract is concluded, the policyholder can terminate it, but the insurer cannot terminate the insurance contract.

During the validity period of the insurance contract, if the policyholder and the insured fail to perform the responsibility of protecting the safety of the insurance subject as agreed, the policyholder deliberately conceals the facts and fails to truthfully inform Yizu Oak. or if the insurer fails to fulfill the obligation of truthful disclosure due to negligence, which is sufficient to affect the insurer's decision on whether to agree to underwrite or increase the insurance rate, the insurer may terminate the contract.

Legal basis: Article 171 of the Civil Code of the People's Republic of China Where the actor does not have the right to do so, exceeds the right to do so, or has the right to terminate the right to do so, and still carries out the act without being recognized by the person, it will not be effective against the person.

The counterpart may urge the person being ** to make a retrospective recognition within 30 days of receiving the notice. Where the person being ** fails to make an expression, it is deemed to be a refusal to recognize. Before the act carried out by the perpetrator is recognized, the bona fide counterpart has the right to revoke it.

The revocation shall be made by way of notice. Where the conduct carried out by the actor is not recognized, the bona fide counterpart has the right to request that the actor perform the debt or request compensation from the actor for the harm suffered. However, the scope of compensation shall not exceed the benefits that the counterparty can obtain when the person is recognized.

Where the counterpart knows or should know that the actor has no rights, the counterpart and the actor bear responsibility in accordance with their respective faults.

Surrender is the cancellation of an insurance policy. After the insurance contract is signed, the parties may terminate the contract by agreement or in accordance with the laws and regulations of the country. In most forms of non-life term insurance policies, there is generally a clause for cancellation of the insurance policy, which sets out the conditions under which either party may cancel the insurance policy before it expires, so as to protect their respective interests from unreasonable prejudice caused by the termination of the insurance contract.

After the cancellation of the policy, the corresponding insurance premium must be refunded. If the policy is not in force, the insured can in principle recover the full premium, but the insurer is also entitled to charge a minimum premium, or a handling fee. If the insured cancels the insurance policy in the middle of the validity period of the insurance policy, the insurance premium shall be paid at the prescribed rate, and the insurer shall refund the balance of all insurance premiums after deducting the insurance premiums payable to the insured; If the insurer requests cancellation of the insurance policy, the unexpired portion of the premium shall be refunded to the insured on a daily basis.

There are three ways to surrender the insurance: 1. Go to the company in person. Materials include:

Surrender application, ID card of the policyholder, copy of bank card, insurance contract and insurance premium invoice. 2. Entrust the salesman to the business hall to handle it. Materials include:

There are three ways to surrender an insurance policy:

1. Go to the company in person. The materials include: surrender application, ID card of the policyholder, copy of bank card, insurance contract and insurance premium invoice.

2. Entrust the salesman to the business hall to handle it. Materials include: surrender application, power of attorney, ID card of the policyholder, copy of bank card, insurance policy and insurance premium invoice.

It depends on what type of insurance you have.

If it's a fixed-term two-way type, such as a guarantee for 30 years, then after 30 years, you can get all your money back.

If it is a whole life insurance, the protection is lifelong, and only the person who travels after the death and total disability can give the income to the beneficiary, otherwise the early surrender of the policy will only refund the cash value.

If it is a consumption-based term insurance, such as 1-year accident insurance, the money will not be refunded at the end of the coverage period.

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

The surrender of the insurance contract can be negotiated by the policyholder, or the insurance can be surrendered in the event of statutory termination of the insurance contract. In principle, the insurance premium can be refunded if the policy is surrendered, but if the policyholder has a serious breach of contract, the insurance premium will not be refunded. Article 47 of the "Insurance Law of the People's Republic of China" If the policyholder terminates the contract, the insurer shall, within 30 days from the date of receipt of the notice of termination of the contract, return the cash value of the insurance policy in accordance with the contract.

Article 27 If an insured or beneficiary falsely claims that an insured accident has occurred and makes a request for compensation or payment of insurance money to the insurer, the insurer has the right to terminate the contract and not refund the insurance premium. Article 47 of the Insurance Law of the People's Republic of China If the insured terminates the contract, the insurer shall, within 30 days from the date of receipt of the notice of termination of the contract, return the cash value of the insurance policy in accordance with the contract Article 27 of the Insurance Law of the People's Republic of China If no insured accident has occurred, and the insured or beneficiary falsely claims that an insured accident has occurred and submits a request for compensation or payment of insurance money to the insurer, the insurer has the right to terminate the contract and not refund the insurance premium.