I bought education insurance for my children. How can I refund my insurance?

Buy education insurance and want to surrender? Under normal circumstances, surrender is not recommended. There is a contract to buy insurance, and surrender is a unilateral breach of contract, which requires a certain penalty. As for the amount of liquidated damages, it can be divided into the following two situations from the time of surrender: how to surrender is the most cost-effective? I suggest reading this article carefully. "I bought the wrong insurance. How can I get the best return?" 》。

The first type: when surrendering, during the hesitation period.

Hesitation is the time to go back on our word. The policy hesitation period is usually 7- 15 days, and the length of the hesitation period is related to the purchased products, which is clearly marked in the product terms. If you want to surrender your insurance during this period, the insurance company will refund the rest of the premium in full except for a little deduction. At this time, the loss is the smallest, which is equivalent to drinking 2 cups of milk tea less.

The second type: the hesitation period has passed when surrendering.

If you want to surrender after the hesitation period, you get the cash value of the policy, not the premium. The value of cash varies according to the length of payment, which is very low in the first year and will increase a little every year thereafter. If you surrender your insurance two years before paying the premium, you will lose the most.

Maybe you want to ask, you didn't get out of danger during the guarantee period, why did the premium return so low? You should know the insurance company's policy management fee, handling fee, guarantee fee, salesman's commission and so on. All need to be maintained at cost, and this money is of course deducted from the premium paid. This also explains why the surrender premium is the lowest within 2 years before insurance.