With the continuous development of loan business, there are more and more types of loans, such as car loans, mortgage loans and mortgage loans. Many netizens ask if vehicle insurance can be loaned. Next, let me talk about my own views.

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 this process, the policy is still valid. Then, can I get a loan from the vehicle insurance policy?

First of all, you should know that only policies with cash value can lend money. As follows:

1, savings policy

Life insurance, dividend insurance, endowment insurance and annuity insurance.

2. National endowment insurance

Universal endowment insurance, accident insurance, health insurance and investment-linked insurance.

Life insurance is generally used as collateral for policy loans, while accident insurance and health insurance have no cash flow and are generally not used as collateral. Policy loans are generally short-term, mostly within six months. The expected annualized interest rate of policy loans is also higher than the expected annualized interest rate of merchants.

Can Ping An Auto Insurance get a loan?

Of course.

All policies with "cash value" can be borrowed, such as endowment insurance, whole life insurance, endowment insurance, universal insurance and dividend insurance. However, not all policies with cash value can apply for policy borrowing, such as investment-linked insurance, because its value fluctuates with the price of the investment unit and cannot be determined, so it is impossible to apply for policy borrowing.

Loan application requires conditions and materials.

1. Age requirement: 23-55 years old.

2. Income requirement: after tax ≥ 3,000/month.

3. Residence requirements: the current residence is ≥6 months, and you live or work in the application place.

4. Applicant requirements: It must be the insured.

5. Life insurance policy requirements: the policy takes effect, and the effective time of the policy is ≥6 months.

6. Application materials: second-generation ID card, residence certificate and life insurance policy materials.

Extended data:

Policy loan repayment

You can choose to pay all or part of the money in one lump sum. If the loan and loan interest cannot be repaid at the expiration of the loan term, the owed policy loan and accumulated loan interest constitute a new policy loan, and the interest is calculated according to the policy loan interest rate on the next day of the maturity date.

If partial repayment is selected, the repayment will be used to repay the accumulated interest first, and then to repay the loan principal. If the borrower fails to perform the debt at maturity, the insurance contract will be terminated when the loan principal and interest are lower than a certain proportion of the cash value of the policy.