According to Article 24 of the Insurance Law, no unit or individual may interfere with the insurer's obligation to pay compensation or insurance money, and may not restrict the right of the insured or beneficiary to obtain insurance money. If the policy specifies the beneficiary, it will not be frozen and will not be claimed by the debtor. When the enterprise goes bankrupt, stocks, bonds, deposits, funds, etc. Will be frozen to pay off debts, but only the insurance policy will not be frozen. In addition, the creditor has no right to ask the beneficiary to repay the debt with insurance money.

Within ten days after receiving the policy, the life insurance applicant can return the policy to the insurance company to cancel the policy and get back all the premiums paid. If the policy is returned by the insured, the insurance company will take the date of receipt as the effective date of cancellation of the policy; If the insurance policy is mailed to the insurance company, the postmark date of the mail received by the insurance company shall be the effective date of cancellation.