To cancel your insurance policy, contact the insurer directly — don’t use “policy cancellation agents.” If you feel misled, call 12378 for free assistance.

43. To cancel your insurance policy, contact the insurer directly — don’t use “policy cancellation agents.” If you feel misled, call 12378 for free assistance.

Cost: There’s no cost involved. Simply call the insurer’s customer service line or visit a branch; this may require a bit more effort than using an intermediary.

In plain terms: Online ads promising “full policy refunds with no fees if unsuccessful” usually come from illegal cancellation agents. They typically take 30–50% of any refund amount and demand your ID, bank details, and verification codes. Once the policy is cancelled, coverage ends. If you feel misled, first contact the insurer’s customer service; if that fails, call 12378 — this service is completely free.

Benefit: In February 2026, China’s National Financial Regulatory Administration, the Cyberspace Administration, the Ministry of Public Security, the People’s Bank of China, and the China Securities Regulatory Commission jointly issued a warning. It stated that claims of “full policy refunds” are false and contrary to insurance laws. “Policy cancellation agents” charge hefty fees; if you try to withdraw from their services, they may sue you for “breach of contract.” They also collect personal data such as SIM cards, bank accounts, policy details, home addresses, and even children’s school information — data that can be sold on, leading to fraud or identity theft. A June 2026 notice from Ningxia’s financial regulator provides further detail: such agents demand 30–50% of the refund amount as a fee and impose steep penalties if you back out. They even instruct clients to fabricate claims of sales misrepresentation or forged signatures. Following such advice could violate public security laws; in severe cases, it may constitute slander or extortion. Once cancelled, coverage ends immediately. Future applications for similar policies may be rejected or cost more due to age or health issues. If you truly feel misled, first contact the insurer’s official customer service; if unresolved, call 12378. If you’re temporarily unable to pay premiums, ask the insurer about options like reduced paid-up value or policy loans. Reduced paid-up value means you stop paying premiums, though coverage decreases proportionally (nationwide, 2026).

Evidence grade: B

Sources: State Administration of Financial Supervision, Cyberspace Administration of China, Ministry of Public Security of China, People's Bank of China, China Securities Regulatory Commission (2026-02-06). Risk warning on being wary of illegal "agency rights protection" short videos and live broadcast traps (reprinted from the official website of the Cyberspace Administration of China). <https://www.cac.gov.cn/2026-02/06/c_1772110875635198.htm>; Ningxia Financial Supervision Bureau (2026-06-16). Risk tips on preventing illegal agency surrender. <https://www.nfra.gov.cn/branch/ningxia/view/pages/common/ItemDetail.html?docId=1261442&itemId=2188>; Hunan Financial Supervision Bureau (2025-07-23). Risk tips on preventing illegal "agency surrender" of black and gray products. <https://www.nfra.gov.cn/branch/hunan/view/pages/common/ItemDetail.html?docId=1218753&itemId=1480>

Notes: In 2025, Hunan’s financial regulator reported a case: a woman followed “advice” from a “friend” to use a cancellation agent, paying a “consultation fee.” Ultimately, her policy was refunded only at its cash value. Three months later, she was diagnosed with breast cancer — and no longer had critical illness coverage. You must weigh the pros and cons: if coverage remains valuable, consider reduced paid-up value instead of cancellation. If you’re still within the cooling-off period, see Section 42 (Cooling-off Period). Your own well-being is the ultimate priority.