As long as it is a policy with cash value, it can provide policy loans.

Insurance policy loan

For those customers who need cash flow in the short term, policy loan is a good choice, and its advantages mainly include:

First, when the policy is valid, the customer can continue to enjoy the insurance protection stipulated in the policy during the loan period. Compared with surrender, the insured need not worry about losing protection due to surrender, and can also avoid the loss of surrender fees.

Second, the policy loan processing method is simple. The insured only needs to bring the policy, valid identity certificate and written consent of the insured to apply for the loan to the insurance company in person. Taiping Life said that as long as the lender brings all the materials, the insurance company can complete the business on the same day. Usually, the loan will be remitted to the bank account designated by the lender, and the loan arrival time is generally 1-3 days.

Third, the insurance company's policy loan interest rate is relatively low. The interest rate of commercial loans from banks for six months or less is 6.2 1%, and from six months to 1 year (inclusive) is 7.02%.