Is Ping An Insurance Policy Loan a good deal? As one of the largest insurance companies in my country, Ping An of China has a large number of customers. Many friends know that Ping An insurance policies can be used to apply for loans. So, is Ping An Insurance Policy Loan a good deal? Let me answer this question for you. The advantages of Ping An insurance policy loans are as follows: 1. Lower loan interest rates. The annual interest rate of China Ping An insurance policy loans is lower than that of bank loans in the same period. 2. The loan time is very fast. Generally, users can receive the loan within 7 to 10 working days. Policy loans do not require waiting for more than a month like banks. 3. The application procedure is very simple. As long as the policy holder holds a valid policy and original ID card, the application process does not require any collateral or evaluation. 4. Interest can be paid in installments and the principal repaid when due. Ping An policy loan customers only need to repay the interest once every six months, and the loan amount can continue to be used. When the loan contract expires, everyone can pay off the principal in one lump sum. 5. The original functions of the policy will not be affected. During the loan period, the protection function, return function, and dividends of the policy will not be affected in any way. From the above five advantages, we can see that Ping An policy loans are relatively cost-effective.