Can I get a loan from an insurance policy?

Yes. Policy loans are available as long as there is cash value on the policy.

For those customers who need it in the short term, policy loans are a good choice. The main advantages are:

First, when the policy is valid, the customer can You can continue to enjoy the insurance protection agreed in the policy during the loan period. Compared with surrendering the policy, policyholders do not need to worry about losing coverage due to surrendering the policy, and can avoid surrender fees and losses.

Second, the policy loan application method is simple. The policy holder only needs to bring the policy, valid identity certificate, and the insured's written statement agreeing to the loan application to the insurance company in person. Taiping Life stated that as long as the lender brings all the materials, the insurance company can complete the business on the same day.

Extended information:

Legal Risk Analysis of Life Insurance Policy Pledge

Life insurance policies basically meet the requirements for pledge: Life insurance policies are based on personal insurance contracts The creditor's rights, that is, the right to claim. Whether this right can become the subject of pledge depends on whether it is property, whether its value can be realized through market transactions, and whether the possession can be publicized.

The subject matter of the pledge of the life insurance policy is fictitious property and should belong to "other property rights that may be pledged as prescribed by laws and administrative regulations" as stipulated in Article 223 (7) of the "Property Law" , can be used as the subject matter of pledge.

Life insurance policies have cash value and returnability, and the subject of their pledge is the right to request the insurer to pay the corresponding price, which is a property right in nature.