1. Prepare all the materials needed for the loan, including the original personal ID card (if the applicant and the insured are not the same person, the original ID card of the insured should also be prepared), the original insurance policy, the bank card number and the information specified by the life insurance company, and apply for the loan at the counter of the life insurance company.

2. The counter staff accepts the application and reviews the information.

3. After approval, the insurance company determines the loan amount and signs a loan contract with the borrower. After the contract is signed, the insurance policy is left to the insurance company as collateral, and the insurance company issues loans.

Interest calculation method

From April this year 1, the interest on life insurance loans is calculated at an annual rate of 5.6%.