The policy with the function of policy loan is generally embodied in the insurance contract. Only policies with cash value can be used for loans. Although different policies can have different loan amounts, according to the regulations of the CIRC, they are basically 70% to 80%. Life insurance policy pledge loan refers to a personal pledge loan business in which you use an unexpired life insurance policy as collateral to obtain a certain amount of RMB loan from the bank to repay the principal and interest of the insured, and will issue the loan on time.

In the process of China life insurance policy loan, all the materials needed for the policy are first prepared, including the original personal identity card (if the applicant and the insured are not the same person, the original identity certificate of the insured must also be prepared), the original policy, the bank card number and the materials needed for the life insurance company to apply for a loan at the counter of the life insurance company, and then the counter staff will accept the application and review the materials. Finally, the insurance company determines the loan amount and signs a loan contract with the borrower. After the contract is signed, the insurance policy is left to the insurance company as collateral, and the insurance company issues loans.

China life insurance policy loan application conditions are 16 to 18 years old, citizens who can provide legal and valid identity documents, have no mental illness or other diseases that can't distinguish their own behavior, have a stable job loan place in the local area, have a stable income, have a fixed residence at the loan place, and preferably have their own housing, and have no bad credit record.

Policy pledge loan is only suitable for short-term capital turnover, not for high-risk investments such as stocks. Policy loans must be applied by the insured or the insured, and may not be entrusted; Insurance policies that have been exempted from paying premiums cannot pledge loans, which is common in children's insurance. China life insurance policy loan is actually very simple. We just need to prepare complete information and go to the counter to handle it. As long as the information can be fully reviewed and approved, the insurance company will issue a loan amount in combination with our policy. After we sign the contract, the policy will be left as a pledge in the insurance company.