If you feel that insurance is not suitable for you, you need to consider the following questions if you want to surrender.
1, whether the economic loss is acceptable.
Surrender is mainly divided into two periods: first, surrender during hesitation period, and second, surrender after hesitation period. (The hesitation period is generally 18 days to 15 days, and different products may have different hesitation periods. )
Surrender during the hesitation period: the loss of surrender during the hesitation period is minimal, and the premium paid can be refunded in full or after deducting dozens of costs.
Surrender after the hesitation period: at this time, the cash value of the policy returns, and the insurance company has a cost to operate every product. Cash value = premium paid _ operating cost of insurance company+interest generated by premium paid. specific energy
How much to return depends on how many years of premium has been paid and how much has been paid every year. The policy also has a corresponding cash value every year. If necessary, you can open the policy to view it. (ps: Long-term insurance has cash value, while short-term insurance has no cash value. )
2. Whether it is acceptable to increase the premium.
With the increase of the insured's age, the greater the risk that the insurance company has to bear, so the premium will also rise. Even for the same product, the insurance premium is different at different ages. For example, a 30-year-old person can buy millions of medical insurance by paying two or three hundred yuan a year, but a 50-year-old person may spend 800 to 1000 yuan a year.
3. Good health.
With the passage of time, the insured's physical condition may be worse than before, and there will be various minor problems and anomalies, which means that the risks borne by the insurance company will become higher. When the insured re-purchases the underwriting of new products, the result may be to increase the cost, postpone, exclude or even refuse the underwriting.
The best way to avoid the risk of surrender is to buy the right insurance at the beginning, so seek the help of relevant professionals before insurance. With the help of professionals, you can get a reasonable insurance portfolio configuration, and you can get professional advice and guidance in the later claim settlement process to avoid claims disputes.
I hope my answer is helpful to you.