Of course.

There is no limit on the number of policy loans. It lends money according to your insurance amount.

Policy loan is a loan obtained from an insurance company with the cash value of life insurance policy as the guarantee. The one-time loan amount of this kind of loan 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.

How many times can I borrow China life insurance?

There is no limit on the number of times you can borrow from China life insurance policy. A policy can only apply for one loan, and it must be settled before it can be applied again. The loan amount of each policy cannot exceed 80% of the cash value, and the loan period cannot exceed 6 months.

China Life Insurance (Group) Company (hereinafter referred to as China Life Insurance) is a central financial enterprise and a state-owned super-large financial insurance enterprise company; Headquartered in Beijing, it is one of the top 500 enterprises in the world, one of the top 500 Chinese brands, and a state-owned vice-ministerial central enterprise. The company's predecessor was the former China People's Insurance Company, which was established in 1949. In 1996, it was divided into PICC Life Insurance Co., Ltd., and changed its name to China Life Insurance Company in 1999. In 2003, with the approval of the State Council and the former China Insurance Regulatory Commission, the former China Life Insurance Company was reorganized into China Life Insurance (Group) Company.

China Life Insurance (Group) Company and its subsidiaries constitute the largest state-owned financial insurance group in China, and are also important institutional investors in China capital market. The business scope covers life insurance, property insurance, enterprise and occupational annuities, banks, funds, asset management, wealth management, industrial investment, overseas business and other fields.

China Life Insurance (Group) Co., Ltd. adheres to the core concept of corporate culture of "be yourself and be an adult", follows the corporate purpose of "honesty-based and steady operation", adheres to the corporate spirit of "innovation, hard work, pragmatism and dedication", takes "share weal and woe with customers" as its corporate value, and strives to build a leading position in China with the spirit of "advancing with the times and pursuing Excellence".

China Life has deeply studied the differentiated needs of different industries, regions, channels and customer groups for risk protection and financial management, deeply focused on the personalized and diversified needs of customers for product innovation, and explored ways to meet the needs of risk prevention, health care, pension, children's education and family financial management. At all stages of life, it brings customers a brand-new consumption experience.

Can I borrow again if the policy loan is not paid off?

If you have outstanding policy loans, you can apply for a second loan. Explain that you have fixed assets under your name and have the ability to repay.

Article analysis: Can the policy be loaned twice?

Policy loan, as its name implies, refers to a form in which the insured mortgages the policy to obtain loan funds, which is slightly less than the common loan form. Many borrowers don't know much about policy loans. Can the policy loan be a second loan? Let's learn about policy loans!

Can the policy loan be a second loan?

The loan clause is one of the commonly used clauses in life insurance, and it is optional. Under normal circumstances, policy loans can only be used after the insurance contract takes effect for a certain period of time, usually 1 to 2 years. At this point, the insured or the insured can mortgage the policy to make a loan.

Policy loans can only provide short-term loans to borrowers. If the borrower needs more loans, he can apply for a bank loan at this time, and the bank loan amount is relatively high. You can choose mortgage loan or credit loan when handling. However, it may take a long time to get a loan.

You can only apply for a loan business once if the policy loan is not paid off.

If the user wants to apply for a policy loan again, he needs to pay off the current policy loan. A policy loan is an amount based on the cash value of the policy, generally up to 80% of the cash value. In the case of not paying off, the policy has no extra quota to support refinancing.

The loanable amount of a policy loan is generally 70% or 80% of the cash value. Although the regulations of different insurance companies are different, there is not much difference between major insurance companies because the specifications of policy loans are formulated by the China Insurance Regulatory Commission.

The above is the sharing of the related content of "Can the policy loan be a second loan?". I hope I can help you!

Can a life insurance policy get a second loan?

A life insurance policy can only be used as a mortgage, not as a second loan.

Unless you lied about your first loan record

Can I get a loan with an insurance policy?

Can I get a loan with an insurance policy?

Loans from China Merchants Bank can be accepted as collateral:

Pledges: RMB demand deposits and RMB time deposits, foreign currency time deposits, local and foreign currency time deposits, voucher-type treasury bonds, savings bonds, book-entry treasury bonds, entrusted wealth management products in local and foreign currencies, and personal life insurance policies;

Consumption can only be pledged by the borrower himself or his spouse.

The general credit period is not more than 5 years, and the term of a single loan or credit project is not more than 3 years; If the loan is for studying abroad, the maximum term of a single loan or credit line shall not exceed 6 years (inclusive). Amount: not less than 50,000 yuan at least, and not more than100,000 yuan in principle; The specific loan amount you can borrow needs to be determined by the outlets after examination and approval according to the amount of collateral and your comprehensive situation. You can directly contact the loan handling bank for consultation!

Can banks use insurance policies for loans?

There are two forms of policy loans, one is premium loans, that is, automatic premium payment referred to in general policies. When the insured fails to pay the premium after the grace period, the insurance company automatically advances the premium from the cash value of the policy. There is no requirement for this clause in general countries, but most insurance companies have made such provisions for the purpose of preventing the policy from becoming invalid.

The second kind is cash loan, which is commonly called policy loan. This kind of loan is the same as the previous one, with the insurance policy as collateral and the cash value of the insurance policy as the source of funds, and also bears the same loan interest rate. However, this form of policy loan takes the form of cash, that is, the loan is paid directly to the borrower to meet his other cash needs (instead of paying the insurance premium of the policy in the first form). In the United States, more than half of the states require that the policy owner be allowed to obtain the policy loan from the cash value of the policy. Therefore, in the United States, most insurance policies with cash value include policy loan terms.

Short-term accident insurance and health insurance, because there is no cash value, or the cash value is very low, such policies can not be used for policy loans. Although cash value is an important factor in evaluating whether a policy can be loaned, it is not only the policy with high cash value that can be loaned. The most typical example is linked insurance.

As an insurance with investment function, investment-linked insurance with a premium of more than 100,000 yuan is not uncommon, and it will soon accumulate considerable cash value. "Although the investment-linked insurance has cash value, it is impossible to make a policy loan because the value fluctuates with the price of the investment unit and cannot be determined.

Can I use the insurance policy to mortgage the loan?

You can treat the insurance policy as a loan, but it is not a mortgage loan, which belongs to the category of credit loans! Three times in two years can repay 20 times the annual payment, and four times in three years can repay 30 times the loanable amount!

Policy mortgage is to withdraw part of the premium you pay, and the interest is low, because you pay the money yourself and you can't borrow much.

You can choose a policy credit loan with a maximum amount of 500,000, which will not affect the cash value and guarantee of the policy.

Can the insured use the policy loan?

No, only the insured can enjoy the function of policy payment, and the insured can enjoy the survival fund when it expires.

Can I use a policy loan to pay a two-year Ping An policy?

Insurance with policy loan function can be loaned when it takes effect.

The specific policy contract stipulates whether the policy loan can be made, as well as the text description and explanation.

Policy loans can only be based on the cash value of the policy.

In real life, unless there is a large insurance policy, ordinary insurance policy contracts and insurance policy loans are of little significance.

Need to pay interest, specific interest, according to the insurance company's plan, each insurance is different.

Before, it is best to understand the above situation before choosing whether to apply for a policy loan.

Can Nanyue Bank use a policy loan?

The insurance policy must be handled by the insurance company where the policy is located, and the bank will not accept it.

Can I use a policy loan in Yancheng, Jiangsu?

It is suggested to contact the local banking institution and ask whether there is a policy loan business. Those who meet the loan business conditions can apply for it. The loan terms are as follows:

1, the policy is valid for more than 6 months;

2. The insurance policy has certain commercial value;

3. Failing to pay the insurance policy in the past two years;

4. The lender's credit status is good, and there is no malicious overdue record;

5. The lender has a stable source of work income;

6. Other conditions stipulated by the bank.

Policy mortgage loan information:

1, ID card;

2. Insurance policy (three copies can be superimposed);

3. Work certificate;

4. proof of address;

5. The bank requests other information.

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 data;

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.

Can Ping An Insured Use Policy Loan?

cannot

Only when the applicant and the insured are the same person,

You can apply for a policy loan

If the applicant and the insured are not the same person

The insured has reached the age of 18.

Policy loan of policyholder

Need the authorization of the insured.

hope this helps

Can I use a policy loan for the insurance I just bought?

It's definitely impossible to get a loan just bought. At present, the policy stipulates that it will take effect for at least one year before the loan can be made.