Jianxin Life SMS said that I was insured.

CCB Life Roncari's insurance can be surrendered, and there will be financial losses beyond the hesitation period.

Surrender can be divided into hesitant surrender and normal surrender.

Surrender in hesitation

Surrender in hesitation period means that the insured surrenders within the hesitation period stipulated in the contract. General insurance companies stipulate that ten days after the insured receives the policy is the hesitation period. Usually the insurance company will refund the full premium after deducting the production cost.

Surrender normally

Surrender beyond the hesitation period is regarded 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 an insurance contract, an insurance company usually needs to deposit a certain amount of liability reserve in order to fulfill its contractual responsibilities. When the insured requests to cancel the contract or surrender due to the insurance validity period, the insurance company will return the balance of the deposited liability reserve minus the cancellation of deduction to the insured according to the regulations, which is the cash value of the policy.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.