How to write a description of full surrender of insurance?

If you have thought about surrendering your policy, it means that you have realized that there were problems with your past insurance. Can we cancel the insurance when payment is discontinued, stopped, expired, or we no longer want to pay? How can we implement surrender in a legal and compliant manner? Today we are mainly going to talk about insurance surrender! If you are determined to surrender the insurance, let’s talk about how much money you can get back if you surrender the insurance? First of all, we need to make one thing clear. When we submit a surrender application, although the insurance company agrees to surrender the policy, the insurance company will not return the premium to us, but will only return the "surrender value" to us.

Because policy surrender is a unilateral breach of contract, after a policy is signed, policy management and other costs have already been incurred, including handling fees, costs, protection deductions and other expenses, which cannot be recovered.

One thing you need to understand is that different types of insurance have different surrender values. Generally speaking, long-term insurance has a higher surrender value, while many consumer insurances have no surrender value.

For example: Let’s take a look at the surrender value of XX Fu: For example, student A wanted to buy a lifetime insurance product, but because he didn’t do enough homework, he finally bought a universal insurance. This situation is a typical case of buying the wrong product. For example, universal insurance is essentially consumer insurance. To put it simply, the insurance can only cover you until the age of 60.

Scenario 2: Buying a low insurance amount

Even if you buy the right insurance, there are still many pitfalls waiting for you. If Dad A’s budget for buying insurance for himself is 5,000 yuan, he may only buy a lifetime insurance with a coverage of 150,000 yuan. In this case, Hao Insurance Manager recommends that it is better to buy a consumption-type insurance with a coverage of 500,000 yuan to protect until the age of 70. Insurance, because the most important thing when buying insurance is the amount of insurance purchased. If the amount of insurance is too low, it will not achieve the purpose of transferring our risks. First, it will be covered until the age of 70. After a few years, when the budget is sufficient, it will be good to add insurance.

Situation 3: Taking up too much of the budget

For an ordinary family, it usually invests 5-20 of the family's annual income to buy insurance, which translates to 1- With a budget of between 50,000 yuan and such a small budget, if you want to provide high insurance coverage for your father, mother, and children, you need to plan carefully.

Scenario 4: Insurance is out of date

Maybe everyone has avoided the above pitfalls, but with the upgrading of products, the insurance purchased many years ago now seems to be completely There is no competitiveness anymore. It’s not that the insurance we bought at the time was not good, but that the insurance was out of date....

Situation 5: There was misleading sales behavior during the purchase process

If the insurance The content of the contract is different from what the salesperson said. There is a big difference. If you were deceived or bought insurance that you can’t use with half-knowledge, you should consider surrendering the policy at this time. There are indeed some situations in life where salesmen exaggerate the effects of products in order to achieve their own sales performance and induce consumers to buy.

The above are some common situations in which you should consider surrendering your insurance. It is recommended that you sort out your own insurance policy. First, you must understand your needs, and then check whether the current protection is satisfactory, and then decide whether to surrender the insurance. . Generally speaking, you can find the policy on your personal homepage, apply for surrender, and follow the above operation guidelines to surrender. However, there are relatively few insurances that can be surrendered online, and many of them require you to surrender yourself or an agent.

I would like to remind everyone that for insurance purchased on a bank APP, if you want to cancel the policy, you still need to find the insurance company where the policy is located, because the bank is not the specific developer of the insurance content, and the insurance company is the one who actually provides the protection. , so you also need to contact an insurance company to handle policy-related business.