Nowadays, many people pay great attention to their health. In addition to the five insurances purchased by the company, they will also add a lot of life insurance and property insurance for themselves to further protect their lives. In fact, in addition to providing protection, life insurance can also be used for loans. Ping An Bank also has similar products. Let's have a look.
Ping An Life Insurance Company of China insurance loan application conditions
1. The applicant must be between 23 and 55 years old, and the life insurance policy holder must be the lender himself;
2. The applicant has a residence certificate of the place where he is located, and has lived in the application place for not less than 6 months;
3. The applicant's monthly income after tax should be higher than 3,000 yuan, and the working time should be more than six months;
4. The life insurance policy is valid for more than 6 months, and the life insurance policy is still valid.
What is the loan amount of Ping An Life Insurance?
As long as you have a life insurance policy, you don't need a mortgage loan, which is one of the most convenient and practical loan methods. The maximum loan amount is 40 times the annual premium, and the calculation ratio of each insurance company is different. If the insured pays a higher insurance premium, the amount will be higher. Then the maximum amount of life insurance loans is 300,000 yuan, and the longest use time can reach 3 years. Generally speaking, the minimum amount can also be 20 thousand yuan. The better the user qualification, the higher the loan amount.
Loan Process of Ping An Life Insurance Loan
To apply for a Ping An life insurance loan, you need to download Ping An Pratt & Whitney app, then authenticate the personal application information, submit relevant materials, and then apply for a loan amount. Then Ping An Pratt & Whitney will review the applicant's review materials and wait for the money to arrive. Life insurance loans can be applied online, as long as they meet the conditions. The results will be announced within three working days after certification. If there is no audit for a long time, please contact Ping An Pratt & Whitney Customer Service.
How to borrow a loan from China Life?
1. Borrowing is not a function of all contracts. That depends on whether you have it in your terms. For example, China Life Hongtai's old-age security (dividend-sharing) has no borrowing function. If there is a loan clause in the terms, it means that it can be borrowed. The maximum amount of loans. It depends on how many years you bought it, mainly according to the new insurance law, that is, before 2009 10. The maximum loan amount is 70% of the cash value, followed by 80% of the cash value. The interest rate of the loan. Every company is different. Before 20 1 1, China Life was 5.56%, and after 20 1 1, it was 6.56%. This is floating, mainly because the company is formulated under the premise of legal compliance. Borrowing time. China Life's longest loan period is 6 months. This does not mean that it can only be borrowed for six months, but only once every six months. The trial calculation of your loan is also based on this time. If you can't repay after 6 months, you can continue to accumulate loans without any formalities. Cumulative square test: loan interest for 6 months of loan principal = refinancing principal. Then calculate the loan interest with the new loan principal until the cash value is not enough to pay the loan. Emphasize that the loan interest rate will be settled on the repayment date. If your insurance contract expires, the loan interest will still be calculated, so it is the responsibility and obligation of the insured to repay the loan as soon as possible.
What is the function and significance of life insurance loans?
The loan function of life insurance is more to help fixed assets achieve liquidity.
This is very useful for some large insurance policies, which not only enlarges the value, but also realizes the realization of fixed assets and increases the liquidity of wealth.
But at present, the domestic life insurance, the general loan interest rate is moderate, different insurance companies, but basically maintained at around 7%-8%, then it depends on whether the money you lend can exceed this value.
This use efficiency is divided into different situations, mainly including liquidity. If you can't get lower money, you can find investment products with higher returns.
liquidity
It's easy to explain. When money is lent, there is liquidity. Whether it is a business or a family, the most important thing is the mobility of wealth. Therefore, if the liquidity is tight, the interest generated by the loan can be ignored.
Can't get lower money
As far as the loan interest rate of 20 19 1 is concerned, this interest rate is moderate for both individuals and enterprises, and even for enterprises, it is cheap. So if you can get a loan from the insurance policy, of course you have to get a loan.
Looking for investment products with better returns
Of course, this investment product may be itself or an enterprise. This is an arbitrage. This is what banks have been doing, exchanging low-cost funds for high-yield funds. Therefore, the good use of life insurance loans can increase leverage and expand family income.
Can China Insurance Ping An Life Insurance Company of China Insurance Company get a loan?
It depends on what kind of insurance you buy. The first is short-term consumer products, such as accidents, accidental injuries, reimbursement of hospitalization expenses, etc. , is not allowed. Secondly, many products with cash value can be loaned through policies. Need to be reminded that the loan is not based on the amount of insurance you buy, but on the value of your policy-it should be lower than the cost you pay. And you need to pay the loan interest on time. In addition, universal products do not need loans, and can directly receive cash with part of the value. Finally, I will give you some operational advice: find the insurance policy, call 955 1 1 to provide relevant information, and ask whether your insurance policy can be loaned, what is the current cash value, what information you need to prepare if you want to apply, and where is the nearest business place, and then go again to avoid running away.
Extended data
The so-called policy loan refers to a loan method in which the insured mortgages the policy he holds to the insurance company and obtains funds according to a certain proportion of the cash value of the policy. Since the customer's insurance protection is not affected in this process, the policy is still valid. An insurance company loan secured by the cash value of a life insurance policy. The one-time loanable amount of such loans depends on the effective year of the policy; The age of the insured and the amount of compensation for death when the policy is issued. Although recent insurance policies usually only allow borrowing at interest rates linked to the money market, the interest rate of such loans to policy holders is often lower than the market interest rate.
If the insured fails to repay the loan, the principal and interest of the loan will be deducted from the death compensation in the life insurance policy. Under normal circumstances, policy loans can only be targeted at policies with' cash value'. Long-term life insurance with saving nature, such as endowment insurance, whole life insurance, endowment insurance, universal insurance and dividend insurance, will have cash value after one year of insurance, and the longer the payment time, the higher the accumulated cash value. These policies can usually be used for policy loans, but the specific situation depends on the specific terms in the insurance contract.