The so-called policy loan refers to a loan method in which the insured mortgages the policy he holds to the insurance company and obtains funds according to a certain proportion of the cash value of the policy. Since the customer's insurance protection is not affected in the process of pledge loan, the policy is still valid. ?

In other words, the policy loan is the right of the insured, and has nothing to do with the insured. Therefore, the applicant and the insured are not the same person, and the policy can be loaned.

An insurance company loan secured by the cash value of a life insurance policy. The one-time loanable amount of such loans depends on the effective year of the policy; The age of the insured and the amount of compensation for death when the policy is issued.

Extended data:

Matters needing attention

1. The premise of a policy loan is that it has been insured for more than two years and the insurance account has cash value. The loan amount provided by the insurance company is 70%-80% of the cash value of the customer's policy.

2. Not all insurance policies can be loaned. Enterprises and individuals who have purchased insurance policies with savings nature such as life insurance, dividend insurance, endowment insurance and annuity insurance can make corresponding loans by way of policy pledge according to the cash value of the purchased insurance.

3. The policy loan is applied by the applicant or the insured, and it is not allowed to be entrusted; Insurance policies that have been exempted from premium cannot apply for pledged loans.

Baidu encyclopedia-policy loan