What does it mean to settle a policy and extend a policy?

This refers to the cash value of the policy when the policy is surrendered, and the surrender of the policy is to reduce the sum insured and purchase the policy with the cash value at one time while the insurance liability remains unchanged, and the extension policy refers to changing the policy to a regular death policy with the same sum assured.

A life insurance policy in which the premiums have been paid in full and the policyholder is not required to pay any further premiums in the future. When summer premium is paid, the policy becomes a fully paid policy after the premium is paid in full at one time. When the installment payment and deadline payment are adopted (i.e., the payment period is shorter than the insurance period), the premium will become a fully paid policy, and the policyholder can also voluntarily pay the insurance premiums in advance (the insurer will give a certain discount), so that the policy becomes a paid policy.

The holder of the fully paid up policy only has the right and no longer has the obligation to pay the premiums.

Extension of insurance policy: In long-term life insurance, when the policyholder is unable to continue to pay the premium due to special reasons and is unwilling to interrupt the insurance, he can apply to the insurance company for extension insurance, that is, apply to pay the insurance premium with the cash value generated by the policy without changing the original death insurance amount, so that the policy will continue to be valid until a certain time.

Peculiarity. Change the original insurance policy to an extension insurance policy, that is, change the original insurance policy to a death insurance policy with the same amount covered as the original insurance policy, and the insurance period will be shortened accordingly, after which the policyholder does not have to pay insurance premiums. In fact, the cash value is used as a single premium, and the amount of insurance is the same as the amount of the original insurance policy, and the duration of the insurance is determined by the amount of the single premium.

After the insurance is changed to an extension insurance policy, the insurance period cannot exceed the insurance period of the original insurance policy. If there is still a surplus in the liability reserve, the insurance premium will be paid as a lump sum for the maturity survival insurance liability or returned to the policyholder in cash.

Both of these are to use the cash value of the policy to pay the premium at one time, and no longer pay the premium in the future, and the policy is paid off for the same period of insurance, reducing the sum insured; A rollover policy is a policy that shortens the period of insurance with the same sum insured.

This refers to the cash value of the policy when the policy is surrendered.

To pay off the policy is to reduce the sum insured under the condition that the insurance liability remains unchanged.

Purchase a Bridge Policy with cash value in a lump sum, and a rollover policy means that the policy is changed to a Regular Death Policy with the same sum assured.

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1. Baohuai Xiangshan loan, also known as policy pledge loan, is a loan obtained from the insurance company by the owner of the policy with the insurance policy as collateral. Policyowners are able to get a policy loan because their policy has a cash value. The implementation of the balanced premium system makes the premiums paid by the policyholders of whole life insurance at the beginning of the policy higher than their various expenses in the current period, so that through the accumulation of year by year, a certain scale of cash value has been formed.

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The insurance policy is an important part of the insurance contract, and it is also an important raw material for the underwriting and verification of benefits and compensation by the insurance company. Also known as:"Letter of Application"、"To protect the book", a written offer by the policyholder to apply to the insurer to conclude an insurance contract. An application form is a document prepared in advance by the insurer and in a uniform format.

The policyholder must fill in the items listed one by one truthfully for the insurer to decide whether to underwrite or under what conditions and at what rates. The insurance policy itself is not a formal text of the contract, but once accepted by the insurer, it becomes part of the insurance contract. In the physical insurance item, when the policyholder makes an insurance offer, it is necessary to fill in the insurance policy.

If the content of the insurance policy is untrue, deliberately concealed or fraudulent, the validity of the insurance contract will be affected.

An insurance policy is an abbreviation for an insurance policy. It is a kind of maximum integrity insurance contract signed between the insurer and the policyholder. The insurance policy must be clearly and completely documented.

Regarding the rights and obligations of both parties, the insurance policy mainly contains the names of the insurer and the insured, the subject matter of insurance, the amount insured, the insurance premium, the insurance period, the scope of liability for compensation or payment, and other specified matters. The insurance policy is the main evidence for the insured to claim compensation from the insurer when the insured suffers losses due to an accident, and it is also the basis for the insurer to collect insurance premiums. Bury potatoes.

A paper certificate after signing an insurance agreement with a surety insurance company.