Yes, the policy loan can be paid off in one lump sum after half a year of repayment, and the CBRC stipulates that after half a year of repayment, there is no need to pay the remaining interest in one lump sum repayment.

The loan can be paid off in advance with the insurance policy, and the bank also stipulates that there is no need to pay the penalty for prepayment after six months of repayment.

Nowadays, many people have bought an insurance policy. The policy with high cash value can be used as a mortgage loan, which is a kind of mortgage loan. Policy loan is very common in the market.

According to the relevant regulations, the loan term of the current policy loan is generally linked to the policy validity period. Under normal circumstances, the term of the policy loan will not exceed the validity period of the policy. In other words, the policy loan product does not stipulate that the user must pay off the debt within six months, as long as it is paid off before the loan period expires.

Generally speaking, after 6 months, as long as you want to continue to use the policy loan, you can continue to use the loan principal as long as you repay the interest generated. However, we need to remind everyone that when using policy loans, we should repay them on time to avoid being unable to get claims when an insurance accident occurs.

First of all, talk about policy loans. The so-called policy loan means that the insured mortgages his policy to the insurance company and obtains certain funds according to the value of the policy. Our policy guarantee will not be affected during the loan process. In fact, to put it bluntly, our policy is mortgaged to the insurance company, and then the insurance company lends us some money according to the cash value of the policy.

Let's look at a few basic information first: first, the loan term, usually up to six months, but the loan can be renewed. The second is the interest rate. The most common interest rates are the two-year resident time deposit rate issued by the People's Bank of China on the first business day of each month and the annual interest rate of 2.5%, whichever is greater plus 2%. Basically 4% to 6%. Many friends asked: I took this policy to pledge the loan. If something goes wrong, the insurance company will compensate me. Actually, don't worry about that. I still have to pay for this.