Insurance contracts generally have a hesitation period of 10 days from the date of signing. If you cancel the contract within 10 days, which is commonly known as surrender, you can get back the principal without loss. Generally, you need to pay the handling fee of 10 yuan.
The following is an online description of the product design:
China Life Hongfu Endowment Insurance (Dividend Type)
I. Insurance coverage
Anyone who is born more than 30 days to under 60 years old and is in good health can be regarded as the insured, and either himself or those who have insurable interests can be regarded as the insured.
China life insurance.
Second, the mode of payment
One-time payment or three-year installment delivery
Third, the insurance period.
There are two kinds of 6-year and 9-year, and the insured can choose at will.
Fourth, income.
(1) fixed income-basic insurance amount
(2) Floating income-annual dividend (bonus)
Verb (short for verb) guarantee
Died of illness:
Within one year from the effective date of the insurance contract = premium paid (excluding interest)
One year after the insurance contract comes into effect = basic insurance amount
Accidental death = basic insurance amount X3
(3x accidental death protection)
Example:
Mr. Zhang: 30-year-old, bought old-age security, and paid100000 in one lump sum for six years of national life Hongfu.
1, yield to maturity
Six years later, Mr. Jin can get 107700 yuan due insurance;
2. Dividend income (assuming an annual interest rate of 4%)
100000 yuan X4%=4000 yuan X6 years =24000 yuan.
Dividends can be calculated according to compound interest.
Therefore, when Mr. Zhang reaches the age of 36, he can get: 100000 yuan (principal) +7700 yuan (interest income)+24000 yuan for six years+six years insurance protection (
See point 5).
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.