How to surrender life? Life?

After the contract is established, the applicant may request to terminate the contract. When the applicant requests to terminate the contract, he shall fill in the application for termination of the contract and submit the insurance contract and the applicant's legal identity certificate.

This contract shall be terminated when the company receives the application for termination of the contract. If the applicant requests to terminate the contract within 10 days after signing the insurance policy, the insurance company will refund all the premiums received to the applicant within 30 days after receiving the application for termination of the contract.

If the applicant requests to terminate the contract ten days after signing the insurance policy, the insurance company shall return the cash value of the contract to the applicant within thirty days after receiving the application for termination of the contract.

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.