After applying for a policy loan (a loan in which the policy is mortgaged to the insurance company and the funds are obtained according to a certain proportion of the cash value of the policy), if the loan cannot be repaid, it is recommended that the customer take the initiative to call the insurance company’s customer service to apply for an extension. See if you can extend the repayment period and repay the debt in installments.

Of course, the insurance company may not agree, so the customer can also borrow money from family and friends around him to repay it. Everyone needs to note that if the customer continues to fail to repay the overdue amount, the principal and interest of the arrears may be deducted from the insurance money.

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Loan process

1. Establish a credit relationship.

To apply for a bank loan, the company must first submit an "Application for Establishing Credit Relationship" in duplicate. After receiving the application submitted by the enterprise, the bank will assign a loan officer to conduct an investigation. The investigation contents mainly include:

①The legality of enterprise operations. Whether the enterprise has the necessary conditions for legal person status. Enterprises with legal person status should check whether the business scope approved by the business license is consistent with the actual business scope.

②Independence of business operations. Whether the enterprise implements independent economic accounting, calculates profits and losses separately, and has independent financial plans and accounting statements.

③Whether the enterprise and the main products it produces fall within the development sequence of the national industrial policy.

④The efficiency of business operations. Whether the corporate accounting final accounts are accurate and in compliance with relevant regulations; the current status and trends of financial results.

⑤The rationality of the use of corporate funds. Whether the company's working capital and fixed funds are managed separately; whether the occupation level and structure of working capital are reasonable, and whether they have been squeezed out or misappropriated.

⑥Build and expand enterprises. Whether the working capital 30 required for capacity expansion has been fully raised. If there is a temporary shortage, have you made plans to make up for it in the short term?

After the loan officer investigates and understands the above situation, he must write a written report and sign his opinion on whether to establish a credit relationship, and submit it to the section (unit) chief and president (director) for step-by-step review and approval. After the president (director) agrees to establish a credit relationship with the enterprise, both the bank and the enterprise should sign a "Contract to Establish a Credit Relationship."

2. Submit a loan application.

Enterprises that have established credit relationships can apply for bank loans based on their reasonable liquidity needs in the production and operation process. [Take industrial production enterprises as an example] When applying for a loan, you must submit an "Industrial Production Enterprise Working Capital Loan Application". Banks carefully review corporate loan applications in accordance with national industrial policies, credit policies and related systems, as well as in combination with the credit scale plan and credit fund sources approved by superior banks.