I bought insurance in Hong Kong. Can the applicant cancel the insurance contract?

The applicant may terminate the insurance contract. According to article 15 of the Insurance Law, "unless otherwise stipulated in this Law or in the insurance contract, the applicant may terminate the insurance contract after the insurance contract is established". The termination of an insurance contract refers to the legal act that the parties to the insurance contract terminate the validity of the insurance contract before the expiration of the validity period of the insurance contract. When an insurance contract is terminated, the party entitled to terminate it generally expresses its intention to the other party, so that the established insurance contract will be destroyed.

China's "Contract Law" stipulates that a contract shall become legally effective after it is established according to law, and neither party may change or terminate it without authorization. Insurance contracts are different from general contracts. Generally speaking, the insured may terminate the insurance contract at any time, and may not terminate it unless otherwise stipulated by law or otherwise stipulated in the insurance contract.

China's Insurance Law gives the insured a very broad right to terminate the contract, and the insured can exercise this right according to his own will. However, it should be noted that once the insurance contract is terminated, the insurance protection set in the original contract will be eliminated, and once a risk accident occurs, the insurance company can no longer get compensation or payment.