How much can insurance policy lapse retreat retreat

2022-06-18 0 By

The insurance company does not refund any fees when the policy expires.1, the policy failure surrender, if it is long-term insurance, after the grace period of the policy to surrender, is able to return a certain cash value, but the amount will be relatively small.The cash value of the policy is not the premium paid, so it is much less.Do not rush to surrender after the expiration of the policy, although there is a fee to activate the insurance contract, but this fee will generally be more cost-effective than direct surrender.2, guarantee slip invalidation is to show insurance expiration, or policy-holder did not pay insurance premium in time inside agreed time, bring about guarantee slip effect to stop temporarily.Insurance accident happens during stop effect, insurance company is irresponsible.And surrender is in guarantee slip effective when ability applies for.3. Surrender means that when the insurance contract is not fully performed, upon the application of the applicant and the insured and the consent of the insurer, the legal relationship between the two parties determined by the contract is terminated and the insurer returns the cash value of the insurance policy in accordance with the provisions of the contract.In the insurance period the applicant can apply for surrender.Surrender can be divided into hesitation period surrender, normal surrender.Some security companies offer a means of surrender to settle disputes.