Read the terms of commercial insurance contract -waiting period and hesitation period

Generally speaking, there are "waiting periods" in critical illness insurance and medical insurance contracts. In order to prevent some customers from being dishonesty and insured with illness, after the contract takes effect, if the insured person will have a disease during the waiting period, the insurance company will not pay, and will only return the premium that has been paid. In the disease, the insurance company will pay the insurance amount. The waiting period for critical illness insurance is generally 90 or 180 days, and the waiting period for medical insurance is generally 30 days. Of course, the shorter the waiting period, the more beneficial to the customer.

The "hesitation period" is the time that the insured can regret and revoke the contract. The general hesitation period starts from the client after signing the contract for 15 days. During this period, if you do not want to buy this insurance, you can apply for a surrender, and the insurance company will return the insurance premiums in full, and the insured will not lose any losses; but if the insurance is overdue, it can only return the "cash cash cash to Value "(that is, the surrender or cancellation fund), the insured will bear a large loss.

It should be reminded that the "cash value" of the policy is the lowest in the first year of purchase insurance. If the insurance is surrendered at this time, it will cause a lot of losses. Therefore, before buying insurance, you must consider being detailed and try not to surrender in the middle. (Excerpted from "Yiyi You Dao Xiang Ping An" Pan Xilong, Zu Qiang/editor -in -chief)

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