There are two situations about the amount of policy loans.
1. When the premium to be paid has not been paid in full, 70% to 80% of the premium can be lent.
2. If the premiums are paid, the loan amount is the year. 70% to 80% of the insured amount (note: the insured amount will increase with the loan of the policy, not the insured amount when the policy is first insured).
Generally speaking, if the premium paid is not paid in full, only 70% to 80% of the premium can be loaned; After paying the insurance premium in full, you can borrow 70% to 80% of the insured amount in the current year. In addition, the loan period does not exceed 6 months, and there are some interests.
The loan amount of the policy generally does not exceed a certain proportion of the cash value of the policy, and at the same time, it needs to bear certain loan interest. The loan amount that the insured can issue is linked to the cash value of the policy, and the accumulated loan amount generally does not exceed 70% to 80% of the cash value. The interest rate is 0.5% of the one-year loan interest rate announced by the People's Bank of China. The loan term usually does not exceed 6 months and should be paid off before the next policy anniversary. It should be noted that: 1 Policy pledge loan is only suitable for short-term capital turnover, not for high-risk investments such as stocks.
2. The policy loan must be applied by the applicant or the insured and may not be entrusted; The premium-free policy does not allow pledged loans, which is very common in children's insurance.
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