Some people can't afford to pay the premium, some people think that the product meets the demand, some people think that some terms of the product are unfriendly, and so on, which leads to the idea of surrender.
Many people are curious and have paid insurance for three years. How much will they get if they surrender? Even if you don't surrender, you can learn the knowledge of surrender.
How to calculate the surrender premium of 0 1?
How to check the surrender premium? Look at two aspects:
1. Cash refund value. Such as term life insurance, critical illness insurance and accident insurance that can be surrendered.
2. Return the total interest of survival. Such as annuity insurance, dividend insurance, universal insurance and so on. The cash value of the main insurance has not received any income.
When you apply for insurance, there will be a cash value table behind the insurance plan or policy, especially for products with certain income. You can see the surrender premium in a certain year in the future without personal calculation.
Cases of surrender of four common products
1. Savings-type critical illness insurance
The vast majority of life-long insurance and cash-valued critical illness insurance in the market are savings-type critical illness insurance, such as Ping An Fu, Guo Shou Fu, Huaxia Evergreen and so on.
Take Taikang Lexiang Health 202 1 Adult Edition as an example. Male 30-year-old insured, paid for 20 years, insured amount of 300,000 yuan, paid 8670 yuan annually. Look at the change of cash value:
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In the third year, it paid more than 25,000 yuan, and surrendered 1, 7 10. Short-term surrender is a loss. Even if the 20-year premium has just been paid, you can't get the money back when you surrender.
Conventional savings-based critical illness insurance, generally after the 26th year, the surrender premium is roughly equal to the paid premium, and the cash value of each company's products is different.
2. Regular consumption of critical illness insurance
Regular consumption, generally 20 to 30 years, guaranteed to 70 years old, no refund when it expires safely. But during the payment period, the cash value will continue to increase.
Take Centennial Life Kanghuibao Ultimate Edition 2.0 as an example. Men are insured at the age of 30 and pay for 20 years. The insured amount is 300,000 yuan, and the annual payment is 4,350 yuan until the age of 70. Look at the change of cash value:
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Regular consumption of critical illness insurance, three-year payment 1.3 million, surrender 47 1 yuan.
3. Universal insurance
General universal insurance can pay 10 years, which can protect serious illness and accidents. Children can be insured, 10 years can be guaranteed for life. After the age of 40, if the insurance coverage is relatively high, adults need to pay 15-20 years to get lifelong protection.
The initial expenses will be deducted from the premiums paid in the first five years, so there is less money in the universal account in the first five years. Take Ping An Adult Universal Insurance Zhiyue Life as an example. Male, 30 years old, paid 7,000 yuan per year 10, died150,000, suffered from serious illness100,000, suffered an accident100,000, and received unexpected medical treatment100,000.
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Adult universal insurance is 4.5%, and the repayment is made in113 years, depending on the insured amount. As can be seen from the above figure, in the third year, the payment is 2 1 1,000 yuan and the surrender is 1 1,355 yuan. 1 year has no loss.
4. Annuity insurance
Annuity insurance has both short-term products and long-term products, and the early cash value is still very similar.
Take China Life's hot new wealth as an example. Payment 10 year, guarantee 15 year, but the attached Xinzunbao universal account is guaranteed for life.
Suppose a 30-year-old male pays 12000 yuan a year, 10 years. The product began to return the survival money in the fifth year. If you don't get it, you will automatically enter the universal account and surrender the total survival interest. The cash value of main insurance is the value of Xinzunbao account. Calculated by 4.5% of universal account:
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In the third year, it has paid 36,000 yuan and surrendered 25,000 yuan. At present, annuity insurance is paid for three years, and there is no loss after the fifth year, and generally no loss after the tenth year.
As can be seen from the above data, Anu.
3. The protection of buying is not comprehensive, and it is mainly based on supplementary protection. For example, the amount of critical illness insurance bought in the past is not high, so you can consider buying an extra critical illness insurance separately. If the career budget is large and the insurance coverage is not very high, you can consider saving it to reduce the insurance coverage, because insurance products can be updated quickly, mainly to make full use of old products.
Related Q&A: Related Q&A: What percentage can be refunded if the insurance is not paid? What should I pay attention to? There is no strict proportion of insurance. It is said that a few percent can be refunded for surrender. We need to discuss it in several specific situations.
First, insurance is still in the hesitation period.
At this point, if you want to surrender, you need to pay 10 yuan at the highest. In many cases, the insurance company will give you a free handling fee and refund your premium in full.
In the past, the hesitation period of insurance may be as short as 10 days or even 5 days. At present, the regulatory requirements generally have a hesitation period of at least 15 days, and some can be as long as 20 days or 25 days.
Therefore, the hesitation period after insurance is a very critical period. In the meantime, you should read the terms of the contract carefully, study the liability and exemption clauses to see if they meet your needs. If it does not meet the demand, it is necessary to surrender the insurance as soon as possible during the hesitation period, so as not to cause greater losses.
After the hesitation period, you can understand that the contract has come into effect, and your relationship with the insurance company needs to be strictly implemented with reference to the insurance contract.
Two. Guarantee insurance
If it is guaranteed insurance, if you don't want to pay the premium and want to surrender, you need to check the cash value table to see what the annual cash value of the policy you want to surrender is. This amount is the money you can get when you surrender.
For example, if you surrender in the third year, you can get the cash value of the third policy year by checking the cash value shown in the third policy year on the cash value table and applying to the insurance company for surrender.
Generally speaking, the cash value is far lower than the premium you pay, especially during the payment period. If you surrender, you will definitely suffer the loss of principal.
Of course, the growth rate of cash value of different insurance products is different, some products have a fast growth rate and some products have a slow growth rate. Generally speaking, the cash value of guaranteed insurance will be around the end of the payment period, so that the cash value can catch up with the premium you pay. Even a few years after the payment period is completed, the cash value will exceed the premium paid.
For example, in the following year, if you pay 6732 yuan for 20 years of critical illness insurance, the cash value will exceed the premium paid in the 27th policy year.
Third, "wealth management" insurance.
If you buy "wealth management" insurance, such as annuity insurance, increased life insurance, universal insurance and dividend insurance. At this time, the cash value of the policy grows much faster than that of the guaranteed insurance. Sometimes during the payment period, the cash value has exceeded the premium.
Whole life insurance, for example, pays 50,000 yuan a year, and the cash value in the fifth year will definitely exceed the total premium.
But we can't buy this kind of "wealth management" insurance at will. We still need to find out the specific protection content of this insurance before taking out the insurance, and judge whether it can realize its own capital utilization demand. Because once you start paying money and want to surrender, it is not a good thing to buy and sell. Even if there is no loss of principal, it also loses the time value of funds.
Fourth, one-year short-term insurance.
Finally, one-year insurance. Although this kind of insurance is that you pay the money first and then cover it for one year, it is actually charged by the day. If you want to surrender, the insurance company will refund your premium according to the number of days you have left.
So you can figure out the surrender ratio. For example, if you have insured for 200 days and then want to surrender, the remaining uninsured days are 165 days, and the proportion you can return is 165/365.
Finally, emphasize one sentence: there is a loss in surrender, so you need to be cautious in insurance. If you are hesitant when taking out insurance, you must grasp the time of hesitation period and carefully consider your insurance choice again.