China life insurance policy loan interest is calculated by multiplying the policy loan interest rate by the loan amount. For example, according to China Life's current policy loan interest rate of 5.5%, the annual interest rate is 55 yuan. Interest is settled once every six months, which can be automatically extended for four cycles, that is, the loan term is six months. If you choose to repay only the interest in advance after the loan term expires, you will not return the principal, which is regarded as a refinancing, which is equivalent to the principal or interest of the next loan.