Insurance that does not surrender or pay will not affect personal credit.
First of all, insurance does not surrender or pay, and does not affect personal credit.
Personal credit is embodied in the credit information system. In the credit information system, there is a personal credit report file established by the national credit information agency for everyone, and the credit information agency provides information to major banks and government agencies. Banks can quickly understand the past personal credit information and determine whether they can repay loans, thus providing loan services. If the credit card is overdue, it will have a bad influence on personal credit. Insurance business is a customer's independent consumption choice, which has nothing to do with it. Therefore, even if you surrender within the grace period, it will not affect your personal credit.
What happens when the insurance expires without paying?
Long-term insurance will go through three stages from the date of expiration, namely, grace period, suspension period and termination period.
period of grace
It means that within 60 days from the due date, the insurance can still make claims, and the insurance will make claims as usual. Surrender within the grace period is generally related to the insurance company's clear provisions on cash value. The cash value given by surrender during the grace period of renewal is different every year, so the refundable premium is also affected by this. Under normal circumstances, the later the insurance year of long-term insurance, the higher the cash value of the policy, and the more premiums will be refunded. If you still don't want to surrender and pay money within the grace period, you will enter the next stage.
The suspension period refers to a period of more than 60 days and less than two years. If you are in danger during the period, you don't have to pay. You need to apply for reinstatement, depending on the terms of each insurance company. Which insurance company is stronger? I just sorted out the relevant content, hoping to help you: the latest list! Top Ten Insurance Companies in China
Finally, after the termination period, that is, two years later, the policy is invalid, and the premium can no longer be paid, nor can the policy be resumed. At this time, the cash value returned by the insurance company will be far less than all the premiums paid.
Therefore, if insurance does not surrender or continue to pay, although it will not affect personal credit, it will definitely cause economic losses to itself in the end. Xiaonuo suggested that you buy insurance carefully, don't make a decision easily, and handle the formalities such as surrender during the grace period with caution.