New China Life can get a loan.

Take the original ID card, the original insurance policy and the information provided by banks and insurance companies, and apply for a loan at the lending institution.

The staff of the lending institution will review the information and approve it. The bank will determine the loan amount and sign a loan contract with the lender. The insurance policy is used as collateral for issuing loans.

The borrower transfers money to the bank card every month as required.

Some suggestions on policy loans

1. During the loan period, if the amount to be paid to the customer is higher than the sum of the outstanding loan principal and interest, the sum of the outstanding loan principal and interest can be directly deducted and the difference can be paid to the customer; However, if the deduction is not enough, you need to pay off the loan first, and then handle the above business.

2. If the policy cannot be surrendered due to the surrender rules, you may not be able to apply for a policy loan. If it is clearly stipulated in the clause that "the insurance will not be surrendered after the major illness is paid in advance", it is not allowed to apply for a policy loan after the major illness is paid in advance.

3. During the loan period, if I handle insurance premium exemption, policy transfer, age error correction of the insured, change of the insured, change of payment method for renewal of insurance, etc. I should repay the loan principal and interest in full first.

4. If there are clauses in the policy, such as automatic prepayment of premium and automatic transfer payment of renewal survival fund, the effectiveness of automatic prepayment and automatic transfer payment will be terminated during the loan period.

5. What about loans overdue? First of all, the insurance company will provide extension service, that is to say, as long as the interest is paid, the loan can be renewed and continued to be used. Secondly, if the interest is not paid, the insurance company will include the interest in the principal and refinance the loan as the insured. Until a certain day, the sum of the loan principal and interest is greater than the cash value of the policy, the insurance contract will be terminated. The term "suspension" is used here instead of "termination", which means that you can still apply for reinstatement within two years.

Extended data

First, the unique advantages of policy loans

1, the threshold is extremely low, and no credit is needed. Anyone who has purchased insurance can apply, and online loan black households are not afraid;

2. In addition to the insurance certificate, other application materials are very simple, and basic identity information is enough;

3. The loan interest is calculated by "days", and only the interest is paid, not the principal, thus reducing the repayment pressure.

4. The next payment is very fast, usually within 3-5 working days, second only to the bank loan, and there is no other handling fee.

5. The loan interest rate is low. At present, the interest rate of applying for policy pledge from insurance companies is generally 4.25%-4.85%, which is basically the same as the benchmark interest rate of bank loans and relatively very low.

6. The loan amount is high, with a maximum loan of 80%. If you want to know the mortgage of real estate, now the first set of 30% down payment, that is, 70% of the value of real estate can be loaned. The proportion of stock pledge financing is even lower, with less than 70% of main board stocks and only 40% of SMEs.

Second, the shortcomings of policy loans.

1. At present, many policy loans bear interest with compound interest. If the borrower fails to pay back within the time limit, the insurance company will include interest in the principal, which is called rolling interest.

2. When the cash value of the individual insurance account is insufficient to repay the loan and loan interest, the insurance contract is terminated.

3. Some borrowers buy life insurance or are seriously ill. Once the insured dies before the policy loan is paid off, the premium paid will be deducted from the loan balance, and the due benefit will be significantly reduced.

Once loans overdue, the insurance policy will be invalid.