The subject wants to ask, "Can the policy loan be extended during the epidemic?" Of course. If the borrower can't pay off all the loan principal and interest in time after the policy loan expires, he can renew the loan, that is to say, after paying off the interest, the loan term will be extended for another six months, so it can be extended. Policy loan is a loan obtained from an insurance company with the cash value of life insurance policy as the guarantee.

I want to ask if the policy loan can be renewed when it expires.

Whether the policy loan can be renewed at maturity depends on the regulations of the insurance company or the lending bank. Now many insurance companies and banks can renew their loans automatically, such as Pacific Insurance, China Life Insurance and Taiping Life Insurance. However, the premise of loan renewal at maturity is generally that only policies with cash value can be carried out, such as life insurance, endowment insurance, savings endowment insurance, dividend insurance, etc., so the possibility of loan renewal is great.

Generally speaking, the credit period of pledged loans is not more than 5 years, the credit period of a single loan or credit project is not more than 3 years, and the general policy pledged loans are not more than 6 months. Therefore, policy pledge loans are generally only suitable for short-term capital turnover, not for high-risk investments such as stocks.

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Can I borrow the insurance policy again?

Policy loans can be repeated. When the borrower applies for a policy loan again, the lending institution will conduct a second audit according to the first loan application and repayment. If the borrower has overdue repayment in the previous repayment process, the lending institution may stop lending.

The application conditions for general policy loans are:

1, and the annual policy payment is more than 2,400 yuan;

2. The policy has been in effect for more than half a year;

3. The insurance policy has a certain cash value;

4. The applicant has no bad credit record;

5. Other conditions required by the lending institution.

Policy loan is to obtain a loan from an insurance company with the cash value of life insurance as collateral.

Policy loan means that as long as your insurance has cash value, you can apply for a loan from this insurance company with this insurance; The maximum loanable cash value is 80%, and the longest loan period is 180 days.

Policy loan, how much can I borrow?

Document No.2065438+2006 No.76 of the China Insurance Regulatory Commission clearly stipulates that the loan ratio of the policy shall not be higher than 80% of the cash value of the policy or the account value, while the maximum loanable cash value of the previous old products is 95%. Therefore, if the cash value of the policy is 6,543,800 yuan, you can borrow 80,000-95,000 yuan from the insurance company at most.

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.

The loan term is generally up to six months, but it 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.

First, not all insurance policies can be loaned. Just now we mentioned that it depends on the cash value of insurance policies, such as some one-year accident insurance, medical insurance or some regular consumption critical illness insurance. The cash value of this policy is almost zero or very low, and people will not give us this loan. Only for those policies with strong savings function, such as whole life insurance, annuity insurance or old-age security, the cash value is relatively high.