Requirements and formalities for surrender:
The eligible person to apply for surrender is the policyholder. If the insured person applies for surrender? ,? must obtain the written consent of the policyholder? and the policyholder must specify who will receive the surrender money?
If the insured person applies for surrender? The contract has been in force for two years and the premiums have been paid for two years? The insurance company receives the surrender application and returns the cash value of the policy? If the insurer receives the surrender application, the cash value of the policy will be refunded. If the policyholder has paid premiums for less than two years? The insurer collects the premiums from the date of commencement of the insurance liability to the date of surrender. After the insurer receives the premiums for the period from the date of commencement of the insurance liability to the date of termination? The remaining premiums shall be refunded to the policyholder. the remaining premiums shall be refunded to the policyholder.
The surrendering insurer shall provide the following documents at the time of surrender:
The policyholder's application for surrender? ,? The insured's request for surrender? ,? shall provide an application for surrender with the written consent of the policyholder? ;
The insurance policy and the last payment voucher provided by the surrendering insured to prove the establishment of the contract;
Identification of the policyholder;
If the policyholder or the insured entrusts another person to do the job on behalf of the policyholder or the insured? ,? shall provide the power of attorney of the policyholder or the insured person and the identity card of the delegator.