I haven't got the insurance policy yet, but I received a message reminding me that I have been insured. Can I surrender my insurance if I don't get the insurance policy?

You can get a full refund within 10 days after signing the contract. After the insurance contract is signed, both parties may terminate the contract through agreement or according to national laws.

In most forms of non-life insurance term policies, there is generally a policy cancellation clause, which explains the conditions for either party to cancel the policy before the expiration, so as to safeguard their respective interests from unreasonable damage due to the termination of the insurance contract.

Surrender of extended data beyond the hesitation period is considered as normal surrender. Usually, the insurance policy that has obtained the insurance premium may not apply for surrender. Normal surrender generally requires that the applicant can apply for termination after a certain period of time, and the life insurance company should refund the cash value of the policy within 30 days from the date of receiving the application. The cash value of a policy refers to the amount that can be returned when the life insurance contract is terminated or surrendered.

In long-term life insurance contracts, insurance companies usually need to deposit a certain amount of liability reserve in order to fulfill their contractual responsibilities. When the insured requests to cancel the contract or surrender the insurance for reasons within the insurance validity period, the insurance company will return the balance of the deposited liability reserve minus the deduction for cancellation to the insured according to the regulations, which is the cash value of the policy.

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