1. If it is a one-year critical illness insurance, it is generally impossible to make a policy loan because the cash value is low and it does not meet the conditions of the policy loan;
2. If it is long-term critical illness insurance, the cash value of the policy is relatively high, which means that the policy loan can be made in the insurance contract and the loan can be applied for. Generally speaking, 70% or 80% of the cash value of critical illness insurance can be loaned (subject to the insurance contract), but the lender usually needs to repay within six months.
Generally speaking, there are only long-term life insurance with saving nature, such as endowment insurance, dividend insurance, general insurance, whole life insurance, endowment insurance, etc. , can be used for policy loans, and generally has a higher cash value. Therefore, there will also be relevant clauses about policy loans in insurance contracts.
Moreover, if it is short-term accident insurance or short-term health insurance, there is generally no cash value, or the cash value is very low, so it is impossible to make a policy loan.