New China Life Insurance Policy Loan Process:

1. For the policy loan of Xinhua Life Insurance, firstly, the applicant applies to the lender, submits the loan information with valid legal identity certificate, and fills in the personal maximum policy application form.

2. The lender sends the original insurance policy submitted by the borrower to the corresponding insurance company for verification and freezing.

3. The lender and the borrower sign the policy contract and the policy receipt.

4. Lenders lend money according to the contract.

2. Can't the policy loan of Xinhua Life Insurance be repaid in installments?

The policy loan of Xinhua Life Insurance can be repaid in installments. Policy loan interest is settled once every six months, and both deposit and interest must be paid back within six months, which is invalid. Only the interest can be repaid, but not the principal. The interest on the second loan is doubled, with both principal and interest.

3. Can Xinhua Life Insurance get a loan?

If there is a loan, a single bank can do more than 90 thousand.

Policy loan process:

1. Prepare all the materials required for the loan, including the original personal identity card (if the applicant and the insured are not the same person, the original identity card of the insured should also be prepared), the original insurance policy and the information specified by the bank and insurance company, and apply for a loan at the lending institution;

2. The staff of the lending institution accepts the application and reviews the materials;

3. After approval, the banking institution determines the loan amount and signs a loan contract with the borrower. After the contract is signed, the insurance policy will be left to the lending institution as collateral to issue loans;

4. The borrower shall repay the loan principal and interest as stipulated in the contract.

4. Can Xinhua Life Insurance get a loan?

New China Life can get a loan. Take the original ID card to insure the original policy, and apply for a loan from the lending institution with the information specified by the bank and insurance company. The staff of the lending institution will review the information, and after determining the loan amount, the bank will sign a loan contract and policy with the lender as collateral to issue loans. Insurance loans are divided into general loans and policy loans. General loans refer to loans provided by insurance companies as non-bank financial institutions to the society. In order to ensure the repayment ability of insurance companies and the safe return of insurance funds, such loans are generally guaranteed. According to the form of guarantee, it can be divided into real estate mortgage loan, securities mortgage loan and credit guarantee loan, such as consortium guarantee bank guarantee. The loan targets can be national and international institutions, relevant government agencies, public organizations, corporate consumers, etc. Mortgage loan is the main form of general loan. The premise of policy loan is that it has been insured for more than two years and the insurance account has cash value. Usually, the maximum loan provided by an insurance company is 70% to 80% of the cash value of the customer's policy. Not all insurance policies can be loaned. Enterprises and individuals who have purchased life insurance, dividend insurance, old-age insurance, annuity insurance and other savings policies can make corresponding loans in the form of policy pledge according to the cash value of the purchased insurance. Insurance policies are only suitable for short-term use, not for high-risk investments such as stocks. Policy loans must be applied by the insured or the insured, and it is not allowed to entrust a premium-free policy, which is more common in children's insurance. Xinhua Life Insurance adopts the method of guaranteed dividend, that is, dividends are paid directly by increasing the insured amount, that is, the annual dividends shared by customers in the current year are automatically added to the insured amount, and then dividends are paid in the next year on this basis. Until it expires or an insurance accident occurs, the insurance amount accumulated by compound interest for many years will be paid to the customer, and there will be a final dividend when the policy is terminated or reduced, which can automatically improve insurance coverage and effectively reduce management costs. At the same time, investment strategy is more important because there is less pressure to realize assets in investment accounts.