Take the case to the risk
1. The gist of the case
Understand the agreement of the insurance contract on the hesitation period and safeguard your legitimate rights and interests.
2. Case introduction
On 1 April 2023, Ms. Tsang applied for two cancer medical insurance products for herself and her family, and came to the insurance company in early May to request a full surrender. The full amount of the refund cannot be made due to the application date exceeding the policy cooling-off period. After communicating with the staff, it was learned that Ms. Zeng chose to purchase the product because she could not renew the insurance company she had purchased before, and after purchasing the product, she found that the insurance company she had purchased had successfully renewed the insurance company, so she chose to surrender the product because she considered that they were all the same type of products. I don't understand that the insurance company can't surrender the policy in full during the hesitation period. After the staff of the insurance company communicated with the policyholder many times, considering the special circumstances of the policyholder, there was no malicious surrender, and the full surrender was made for the policyholder after negotiation.
3. Case analysis
In this case, Ms. Zeng did not apply to the insurance company to terminate the contract during the cooling-off period, and if the policy needs to be surrendered after the cooling-off period, the insurance company can only surrender the policy according to the cash value agreed in the contract, and Ms. Zeng needs to bear the corresponding surrender loss.
According to Article 47 of the Insurance Law, if the policyholder terminates the contract, the insurer shall, within 30 days from the date of receipt of the notice of termination, refund the cash value of the insurance policy in accordance with the contract.
4. Case enlightenment
When purchasing insurance, consumers should clearly understand the insurance terms, insurance tips, product manuals and other relevant materials of the insurance product, and consult the insurance company in time for the terms that they are not clear or misunderstood, so as to avoid buying the wrong one on the spur of the moment and bringing unnecessary trouble to both parties. At the same time, the surrender amount beyond the cooling-off period is linked to the cash value of the policy, and consumers should have a detailed understanding of the cooling-off period rights and interests of the selected insurance product in order to make the cooling-off period clause play its due role.