Do not be taken lightly surrender decision Insurance Tips

Category: Insurance tips Release Date: 2006-08-01

Life is a long-term savings and protection, the calculation of insurance premiums to stabilization methods, namely, a balanced insurance. Life insurance premiums and additional premiums from the composition of pure, pure premiums used to assume the responsibility of the insurance payment, that is agreed in the contract of death, injury, full period of life, annuities and other payments. Additional costs on the insurance company of the expenses, including management fees and commissions. In different types of insurance, the premium surcharge for the proportion of the total is different in each policy year, the surcharge accounting for the proportion of premiums are also different.

Policyholders will surrender on the economy to a certain extent the loss, no matter what the reason for surrender, according to the provisions of the contract, can only be returned by a certain percentage of cash, so the insured must be clear when the specific provisions of insurance terms, do not rely on assumptions to understand the terms, or else lose out is yourself. Under the "Insurance Law" stipulates that: "cancel the contract the insured has paid more than two years of premiums, the insurer shall cancel the contract received within thirty days from the date of the notice, refund the cash value of insurance policies; not paid in full for two years insurance premiums, the insurance in accordance with the contract, after deduction of fees, refund of premiums. "

In addition, age is one of the foundations of the life insurance premium calculation, age, the higher the rate higher. If the surrender and then purchase new policies will pay more because of age, the growth of premiums, and even beyond the age limit for refused insurance.

Under the current terms of the insurance companies, some insurance products can be handled by the amount paid or the mortgage insurance policy, so if an accident resulted in economic downturn, but also to save them, do not easily surrender. In addition, the insurance life insurance medical examination before the general needs, but the policy is in effect no need for further medical examination. However, surrender before the insured to purchase new insurance policies will have to re-examination, not only inconvenience and trouble, and the insured person increased with age, state of health may decline.