First, interest rates are different. The interest rate of policy pledge loans through banks is the commercial loan interest rate announced by the central bank, which is usually higher than the policy loan interest rate of insurance companies.

Second, the procedure and time are different. Compared with insurance companies, banks also need insurance companies to produce relevant information, such as proof of cash value of policies and proof of policy freezing. These materials must be prepared by the lender. Because the insurance company needs to confirm and verify, there is no real-time communication channel between banks and insurance companies, so the processing time will be longer than going directly to the insurance company.

Third, the loan amount is different from the reference standard. Some banks can provide loans up to 90% of the cash value of the policy at that time; Moreover, some banks will also refer to the lender's credit, the number of deposits and other indicators, and the loan amount may exceed the cash value of the policy.

Fourth, almost all life insurance companies can provide loans to eligible policies, but the types of policies recognized by banks are limited, and there are fewer banks and outlets providing this business. For example, Bank of China, although providing policy loans, can only provide loan services for Ping An's life insurance policies. China Merchants Bank does not provide this service in Shanghai.