How to calculate the formula of surrender benefit, what is the surrender amount calculated according

There are usually two ways to calculate the surrender rate:

1) By the amount insured.

Compute. The calculation formula is: surrender rate = (the sum insured of the surrender policy in the current year and the total amount of insurance in force at the beginning of the year) 100%. The surrender rate is equivalent to the ratio of the sum insured payable for the policy surrendered in the current year to the total amount of insurance in force at the beginning of the year.

2) Calculated based on the surrender amount paid. The formula is as follows: Surrender Rate = [Total Surrender Amount for the Period (Accumulated Reserve at the Beginning of the Period.

Total + Total Net Premiums for the Period)] 100%。 If the policyholder terminates the insurance contract during the insurance period, the insurer shall pay the cash value of the insurance policy in accordance with the agreement.

Surrender Payment). The cash value comes from the policy's reserves, which are accumulated over many years of premiums paid by the policyholder.

Therefore, the surrender ratio is the total surrender amount divided by the opening reserve, divided by the net current premium, and multiplied by 100%. The surrender rate is a comprehensive indicator that reflects the operating conditions. A high return rate is not only an indication of a quality issue with your business, but may also include a customer service issue.

The surrender rate can be used as an indicator for evaluation and assessment to compare the business and service quality of various branches, institutions and people.

In general, a high surrender rate can adversely affect the business stability of an insurance company. Therefore, insurance companies should try to avoid and reduce surrenders and reduce the surrender rate.

Further information: 1. Surrender money, also known as "termination payment", is the amount paid by the insurer when the policyholder or the insured requests to terminate the insurance contract before the end of the insurance period. Due to the long term and savings nature of life insurance, the premium is either a single claim or a balanced premium, so at each point in the insurance term, a certain amount of unexpired liability reserve will accumulate under each policy.

The reserve for unexpired liabilities is used to cover future insurance liabilities.

2. When the policyholder or the insured requests to surrender the insurance, the insurer no longer bears the insurance liability, so the accumulated unexpired liability reserve shall be returned. However, surrender will cause the insurer to suffer a certain loss. For example, in order to cope with the surrender of the policy that may occur at any time, the insurer must keep a certain amount of cash for investment and use, and the insurer must charge a certain handling fee.

Therefore, the surrender amount is equal to the difference between the accumulated undue liability reserve under the policy and the surrender fee. In addition, since the expenses incurred at the time of signing the contract can only be deducted and the reserve can only be accumulated after several years, the insurer can only pay the surrender benefit after a certain period of time (such as one or two years) after the insurance contract has been withdrawn.

The simple surrender rate in the insurance industry, also known as the surrender rate, refers to the ratio of the surrender amount to the total amount insured in a certain period.

There are two ways to calculate the surrender rate:

Calculated using the surrender amount paid. The policyholder terminates the insurance contract during the insurance period, and the insurer pays the cash value (surrender money) of the insurance policy as agreed: the cash value comes from the reserve of the policy, which is accumulated by the insurance premiums paid by the policyholder over the years.

Therefore, the surrender rate is the ratio of the total surrender benefit paid to the sum of the opening allowance plus the net premium for the current period. It is an important indicator that reflects the quality of the business. The calculation formula is as follows:

Surrender rate = [Total Surrender Benefit for the Period (Total Accumulated Reserve at the Beginning of the Period + Total Net Premiums for the Period)] 100%;

Calculated with the sum insured: the ratio of the sum insured of the surrender policy in the current year to the total sum insured in force at the beginning of the year, i.e.

Surrender rate = (Surrender Sum Assured of the current year Total Sum Assured in force at the beginning of the year) 100%.

Hello, happy to answer your question, when you surrender the policy, it is according to the cash value table of the current year to give you the surrender premium, and this cash value table of the current year, there will be detailed numbers on your policy, not calculated, but agreed by the insurance company, you sign the insurance contract, it means that you have recognized the value on the cash value table.

You can take a look at your insurance policy, or insurance contract, which will have a cash value table, which states the cash value for each year, which is the premium that the insurance company will refund you when you surrender the policy in the current year.

Insurance surrender includes two situations: hesitation period surrender and normal surrender, and different types of surrender are calculated in different ways.

1. Surrender during the hesitation period: The insurance company only charges about 10 yuan for the production cost, and will refund all the premiums paid by the consumer.

2. Normal surrender: then the calculation formula for insurance surrender is: surrender amount = premium paid by the policyholder - company management fee - commission cost - interest generated by the remaining premium of the premium required for assuming responsibility.

According to the Insurance Law of the People's Republic of China, if the policyholder terminates the contract and has paid the insurance premium for more than 2 years, the insurer shall refund the cash value of the insurance policy within 30 days from the date of the notice of termination; If the insurance premium is not paid in full for 2 years, the insurer shall refund the insurance premium after deducting the handling fee in accordance with the contract.

There are two ways to calculate the surrender rate:

1. Calculate the surrender money paid by the stuffy one. If the policyholder terminates the insurance contract during the insurance period, the insurer pays the cash value (surrender money) of the insurance policy as agreed: the cash value comes from the reserve of the policy, which is accumulated by the insurance premiums paid by the policyholder over the years.

The calculation formula is as follows: Surrender Rate = [Total Surrender Benefit for the Period (Total Accumulated Reserves at the Beginning of the Period + Total Net Premiums for the Period)] 100%;

2. Calculated by the sum insured: the ratio of the sum insured of the surrender policy in the current year to the total amount in force at the beginning of the year, that is, the surrender rate = 100% of the sum insured in the current year and the sum insured in force at the beginning of the year.

There are usually two ways to calculate the surrender rate: (1) It is calculated by using the amount of insurance blind. It is calculated as follows:

Surrender rate = (Surrender Sum Assured of the current year Total Sum Assured in force at the beginning of the year) 100%. The surrender rate is equivalent to the ratio of the sum insured that needs to be paid for the policy surrendered in the current year to the total amount of the sum assured in force at the beginning of the year.

2) Calculated with the surrender amount paid. The formula is as follows: Surrender Rate = [Total Surrender Benefit for the Period (Total Accumulated Reserve at the Beginning of the Period + Total Net Premiums for the Period)] 100%.

The policyholder terminates the insurance contract during the insurance period, and the insurer pays the cash value (surrender payment) of the insurance policy as agreed.

The cash value is derived from the reserve of the policy, which is accumulated by the premiums paid by the policyholder over the years. Therefore, the surrender rate is the result of the total surrender benefit divided by the opening allowance divided by the net premium for the period multiplied by 100%.

The surrender rate is a comprehensive indicator that reflects the business situation. The high surrender rate not only indicates the quality of the business, but also covers the problem of customer service. The surrender rate can be used as an indicator of evaluation and assessment to compare the quality of business and service of various companies, units and people.

Generally speaking, a high surrender rate will adversely affect the stability of the insurance company's business operations, so the insurance company should try to avoid and reduce the occurrence of surrender and reduce the surrender rate.

Surrender money refers to the surrender money paid to the insured in accordance with the provisions of the insurance clause when the insured handles the surrender of the long-term life insurance business operated by the company. If the insured has paid the insurance premiums for more than two years when the insured terminates the contract, the insurer shall refund the cash value of the insurance policy within 30 days from the date of receipt of the notice of termination; If the insurance premium is not paid in full for two years, the insurer shall refund the insurance premium after deducting the handling fee in accordance with the contract.

1) Normal surrender: If the insured object moves to the place where the household registration is moved and the agricultural insurance system is not established, the farmer is converted to a non-agricultural area or dies during the payment period, it can be treated as normal surrender. At the time of surrender, the insurance premium paid by the individual will be refunded to the individual or legal heirs after deducting the management service fee, and the interest will be calculated according to the prescribed surrender interest rate.

2) Abnormal surrender: In principle, abnormal circumstances are not allowed to withdraw from insurance. If an individual insists on withdrawing from the insurance, only the insurance premium paid by the individual subject of the insurance will be refunded (deducting the management service fee and not calculating interest).

According to the principle that individuals do not participate in the pension insurance and the collective does not subsidize, the collective subsidy that has been included in the name of the individual will not be refunded and will be included in the **.

Article 136 of the Civil Code: Civil juristic acts take effect upon their establishment, except as otherwise provided by law or otherwise agreed upon by the parties.

The perpetrator must not modify or dissolve the civil juristic act without the consent of the other party except in accordance with the provisions of law or without the consent of the other party.

Article 158:Civil juristic acts may be conditional, except where conditions must not be attached based on their nature. Civil juristic acts with conditions for taking effect take effect when the conditions are fulfilled. Civil juristic acts with conditions for rescission shall become invalid when the conditions are fulfilled.

Calculation of surrender payment: If the policyholder terminates the contract in accordance with the law, the insurer shall refund the cash value of the insurance policy in accordance with the contract; If the contract is terminated due to a partial loss of the insured object, the insurer shall refund the insurance premium for the unlost part of the insured subject matter to the policyholder after deducting the part receivable from the date of commencement of the insurance liability to the date of termination of the contract in accordance with the contract.

[Legal basis].

Article 45 of the Insurance Law of the People's Republic of China.

If the insured intentionally commits a crime or resists the criminal compulsory measures taken in accordance with the law, resulting in his disability or death, the insurer shall not be liable to pay the insurance money. If the policyholder has paid the insurance premium for more than two years, the insurer shall refund the cash value of the insurance policy in accordance with the contract.

Article 47.

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

Article 58.

If part of the loss of the subject matter of the insurance occurs, the policyholder may terminate the contract within 30 days from the date of compensation by the insurer; Unless otherwise agreed in the contract, the insurer may also terminate the contract, but shall notify the policyholder 15 days in advance.

If the contract is terminated, the insurer shall refund to the policyholder the part of the insurance that has not suffered any loss in accordance with the contract after deducting the part receivable from the date of commencement of the insurance liability to the date of termination of the contract.

Hello, there are two types of surrender: there is a loss and no loss, the surrender without loss is surrendered during the hesitation period after the insurance, and the loss is beyond the hesitation period to surrender the insurance contract can only return the cash value of the insurance contract, generally the cash value of the previous years is relatively low, so the dad recommends not to surrender easily. Before applying for insurance, you should also carefully choose the most suitable one for yourself, and try to avoid the situation of surrendering the policy.

If you do buy the wrong one, how to surrender the policy? Poke this "I bought the wrong insurance, how to surrender the most cost-effective?" 》

Daddy, let's popularize some knowledge for everyone.

There are three main periods of insurance:Cooling-off period, waiting period, grace period

Among them, the waiting period is a time period that we need to pay more attention to. In general, the shorter the waiting period, the better.

1.Cooling-off period

The cooling-off period refers to the period during which the policyholder can apply for cancellation of the insurance after successfully applying for insurance and obtaining the insurance contract (including paper contract and electronic contract).

We can also understand that the hesitation period is the period of time when we can regret it after buying insurance.

The hesitation period surrender is the right of the policyholder, and the insurance company must accept it, after deducting part of the cost, it is generally the cost of production, and the premium paid should be refunded.

However, not all insurance plans have a hesitation period, for example, a one-year property insurance or a few days or a few months of short-term insurance do not have a hesitation period.

2.Waiting period

The insurance waiting period is mainly set to prevent malicious insurance fraud and sickness insurance.

The length of the waiting period is different for different types of insurance, and the longer the coverage period, the longer the waiting period will be

Critical illness insurance, life insurance: generally 90 - 180 days.

Medical insurance: Basically 30 days.

Accident Insurance: There is no waiting period and the policy is covered when the policy is in effect.

It should be noted that if a short-term product such as Million Medical Insurance is successfully renewed in the second year, there is no need to continue to go through the waiting period, and the insurance will take effect when the renewal is successful.

3.Grace period

The grace period is mainly the period during which the payment of premiums is allowed and the contract is still in force.

The main purpose of the grace period is to provide more time for policyholders who are financially struggling to raise funds and continue to enjoy protection.

After the first premium payment, there is a grace period of 60 days from the due date of each premium, and the premium payment can be deferred.

If the insurance contract is still valid if it is necessary to take out the insurance during the grace period, the insurance company shall assume the insurance liability, match the concession and settle the claim according to the terms of the contract.

The surrender of the insurance is calculated according to the cash value, and the cash value is in the contract.

Insurance surrender can be divided into hesitation period surrender and normal surrender according to the time of surrender, and the premiums that can be refunded are not the same.

The cooling-off period is when the policyholder applies for surrender within 10 days after the insurance takes effect (the cooling-off period for short-term insurance is counted separately). In this case, the insurance company will only deduct the cost of production and refund the remaining premium in full. There is basically no financial loss for the policyholder.

A normal surrender is a surrender that is applied for after the cooling-off period of the insurance contract has expired. Strictly speaking, this is actually a unilateral request to terminate the insurance contract. However, in order to protect the relatively vulnerable policyholders, the law specifically gives the policyholder the right to terminate the contract.

In this case, the amount refunded by the insurance company is generally the cash value of the policy, and the policyholder's economic loss is relatively large.

When purchasing insurance, the premiums paid by the policyholder can be divided into pure insurance premiums and additional insurance premiums according to the purpose. The pure premium is a portion of the premium that is actually used for insurance claims, and is usually kept as a liability reserve. In fact, the additional insurance premium is used to pay for the specific operating expenses of the insurance company.

Cash value of the policy = reserve for policy liability - surrender fee. Generally speaking, most of the cost of a policy is concentrated in the first two or three years after the insurance is purchased. During this time, insurance companies need to bear expenses such as making insurance policies, settling ** handling fees, and paying employees' salaries.

If you choose to surrender the policy at this time, after the insurance company has deducted various handling fees, the policyholder can get a very small refund.

Even if the policy is surrendered after two or three years, the refund that the policyholder can get is still less than the insurance premium he paid. Therefore, after purchasing insurance, do not choose to surrender the insurance unless you have to.