The basis of policy loans is cash value. Policy loan is a loan obtained from an insurance company with the cash value of life insurance policy as the guarantee. 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. 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.

I. Policy loans

1. Policy loans are generally the bank's two-year loan interest rate plus 2%. If you are sure that the interest rate is 6%, it will be 6%, the interest of 540 yuan.

2. There are two ways of policy loan.

The first is that the insurance company uses the current price of the policy to borrow money, which can be 70-80% of the current price, with an annual interest rate of about 6% for up to 6 months, ignoring the credit problem. The loan does not affect the benefits of the policy, but only needs to pay interest once every six months. If it is due or settled, the principal and interest of the loan need to be deducted from the amount obtained. Except for products whose current price increases rapidly, the loanable amount generally does not exceed the insurance compensation amount.

The second type is that Ping An Bank and small loan companies multiply the policy payment, with a monthly fee of 0.85% ~ 1.5%, which can be loaned for three years and needs good credit information. Repay on a monthly basis, and you need to repay part of the principal and interest every month. Because the principal is repaid every month, it is actually used less and less. According to the bank interest, the actual annual interest rate is 18 ~ 28%. The advantage is that the loan amount is large.

Second, interest

1. Interest is the use fee of money in a certain period of time, and it is the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable. Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; It is also part of the bank's profits. Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks. Interest rate refers to the ratio of the interest amount due in each period to the par value of the borrowed, deposited or borrowed amount (called the total principal). The total interest of the lent or borrowed amount depends on the total principal, interest rate, compound interest frequency and the length of time of lending, deposit or borrowing. Interest rate is the price that the borrower needs to pay for the money borrowed, and it is also the return that the lender gets by delaying his own consumption and lending it to the borrower. The interest rate is usually calculated by the percentage of one-year interest to the principal.

2. Interest calculation is divided into product interest method and transaction interest method:

Annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (days);