How much policy loan you can get depends on the amount of policy loan agreed in the contract, which is generally 70% or 80% of the cash value of the policy. On this basis, the higher the cash value of the policy, the higher the loan amount.

Policy loan is a loan obtained from an insurance company with the cash value of life insurance policy as the guarantee. 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.

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 the process of pledge loan, 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.

Short-term accident insurance and health insurance, because there is no cash value, or the cash value is very low, such policies can not be used for policy loans. Although cash value is an important factor in evaluating whether a policy can be loaned, it is not only the policy with high cash value that can be loaned. The most typical example is linked insurance.

As an insurance with investment function, investment-linked insurance with a premium of more than 100,000 yuan is not uncommon, and it will soon accumulate considerable cash value. "Although the investment-linked insurance has cash value, it is impossible to make a policy loan because the value fluctuates with the price of the investment unit and cannot be determined.

How much can I borrow from a life insurance policy loan?

Nowadays, people's recognition of life insurance is getting higher and higher, and more and more people are insured. In fact, life insurance can not only provide protection for everyone, but also help you apply for a loan. So, how much can a life insurance policy loan borrow? Let me introduce you to the relevant content.

The amount of policy pledge loan is determined according to the cash value of your policy, which generally does not exceed 80% of the cash value of your policy. For example, if the cash value of your policy is 6,543,800 yuan, then you can borrow up to 80,000 yuan. The cash value of each insurance policy is different. There is a cash value table in the insurance contract, and the cash value is different every year.

In addition, life insurance policies that meet the following conditions cannot be loaned:

1, the life insurance policy has not yet generated cash value;

2. The payment time is short, and the insurance premium has not been paid for one year;

3. The cash value of life insurance policy is too small to be handled;

4. The reduction has been paid off;

5. Payment has stopped;

6. Premium exemption;

7. The cash value has been used for prepaid premiums;

8. I am applying for a claim.

What is the maximum loan for a policy loan?

When money is tight and money is needed, but there is no job, no mortgage, but insurance. In this case, can I use a policy loan? What is the maximum loan amount of a policy loan?

The amount of policy pledge loan is determined according to the cash value of your policy, which generally does not exceed 80% of the cash value of your policy. For example, if the cash value of your policy is 6,543,800 yuan, then you can borrow up to 80,000 yuan. The cash value of each insurance policy is different. There is a cash value table in the insurance contract, and the cash value is different every year.

Ms. Liu bought a dividend insurance and paid the premium of 654.38+10,000 yuan in one lump sum. Two weeks after the insurance, Ms. Liu was in urgent need of capital turnover because of the project investment, so under the guidance of the insurance agent, she applied for a loan with the insurance policy and successfully applied for 780,000 yuan. However, it should be noted that the term of policy loans is generally controlled within half a year. If it expires, it is not a breach of contract, not only a penalty interest will be paid, but the contract may also be terminated. If it is more than half a year, you can cycle the loan. When revolving the loan, you only need to pay off the interest of the last loan cycle, and at the same time take the repayment date as the new value date, and the loan period of the policy will be extended.

In addition, not all insurance policies can be used for loans. Some people think that only life insurance, dividend insurance, old-age insurance, annuity insurance and other insurance policies with savings nature can apply for loans from insurance companies, and the regulations of various insurance companies on the expected annualized interest rate of loans are also different.

The following types of policies cannot be processed:

1. Short-term accident insurance and health insurance cannot be loaned because they have no or very low cash value;

2. Medical expenses insurance, property insurance without mortgage conditions, and children's insurance with premium exemption function cannot apply for loans;

3. Investment-linked insurance with a premium of more than 654.38 million yuan can quickly accumulate considerable cash value, but its value fluctuates with the price of the investment unit, so it is impossible to determine its value.

How to use the policy loan, and how much can I borrow?

Policy loans, how much money can be borrowed mainly depends on the cash value of our policy. At present, the amount of policy loans is usually 70% or 80% of the cash value. The higher the cash value, the higher the loan amount.

Policy loan, generally speaking, is to mortgage our policy to the insurance company and borrow some money. But not all policies can be used as collateral for policy loans. Because generally speaking, our loan amount is determined according to the percentage of cash value, and policies without cash value are generally unable to lend.

Generally, long-term insurance with high cash value can be used for policy loans, such as whole life insurance, or critical illness insurance and annuity insurance with long guarantee period. The specific situation still depends on the insurance clauses corresponding to the products.

Extended data

The object of insurance policy pledge refers to the object to which the insurance policy pledge points. Although the pledge of insurance policy seems to take the insurance policy as the pledge target in name, in fact, it does not take all the rights contained in the insurance policy as the pledge target. It is meaningful to set up a pledge only on the rights of the holder and the rights with property content, otherwise even all the rights can be set up as a pledge;

However, due to the restriction of the insurance contract on the identity of the obligee, it is actually useless for the pledgee to pledge his rights that cannot effectively satisfy his creditor's rights. This shows that for policy pledge, the pledged subject matter is not all the rights of the holder, but only a small part of it.

Regular policy loans refer to policies with cash value. Generally speaking, the policy loan requires the borrower not to be overdue for more than 90 days, not to be overdue for more than 20 times, and not to be overdue at present. During the loan period, the insured still needs to pay the premium on schedule to maintain the validity of the insurance contract during the loan period.

The general policy value is not particularly high, and the policy loan amount can be limited. Not suitable for long-term loans, but sometimes it can come in handy in an emergency.