This is a very common concept when we talk about policy loans. A policy loan is the process by which the insured person mortgages his or her insurance policy to the insurance company in order to obtain the loan. So how much can we borrow for a specific life insurance policy loan

How much life insurance policy loans can be loaned

IN CHINA, THE VALUE OF A LIFE INSURANCE POLICY DEPENDS ON THE CURRENT CASH VALUE OF THE POLICY. TYPICALLY, ONLY INSURANCE PRODUCTS WITH A HIGHER CASH VALUE ARE SUITABLE FOR POLICY LENDING. LOANS FROM 70% TO 80% OF THE POLICY ' S CASH VALUE AT THAT TIME ARE USUALLY AVAILABLE, FOR EXAMPLE, FOR ANNUITY INSURANCE, LONG-TERM SERIOUS ILLNESS INSURANCE AND LIFE INSURANCE, WHILE THE POLICY REMAINS VALID。

In seeking a policy loan, we need to pay attention to several important points:

First, we need to look closely at our own insurance contracts and confirm that they clearly state whether the long-term life insurance can be loaned。

Second, the contract will also specify how many years after the policy can be held. In general, this is usually two years later, and some financial-type insurance can be loaned after a hesitation。

3. It is also important that the contract indicates the amount of the policy that can be loaned, which is a percentage of the value of the cash, rather than the premium paid by the policyholder。

4. Finally, the insured person may also consult further by using the manual passenger telephone of the insurance company, which will inform the client of the actual loanable amount and interest on the loan。

These are the information on the amount of the life insurance policy loan, and it is hoped that they will be helpful。