If the insured is a minor (less than 18 years old), the parents can sign it without the consent of the insured; If the insured is an adult (18 years old and above), it needs the personal signature of the insured, so that the insured will definitely know. Policy loans need policyholders. If the applicant pledges the policy to an insurance company or bank, the loan amount can reach 90% of the cash value, and it needs to be based on the borrower's personal qualifications and other conditions. The applicant applies for a policy loan without the consent and signature of the insured, and the repayment responsibility is entirely borne by the applicant. In case the policy loan cannot be repaid, banks and insurance companies will offset the principal and interest of the loan with the cash value of the policy, which will affect the rights and interests of the policy. If the claim is settled during the loan period, the insurance company will deduct part of the loan fee and pay the rest. Provisions on several issues concerning the application of law in the trial of private lending cases

Article 1 The term "private lending" as mentioned in these Provisions refers to the financing behavior between natural persons, legal persons and unincorporated organizations. These provisions shall not apply to financial institutions and their branches engaged in loan business established with the approval of the financial supervision department, as well as disputes arising from loans and other related financial businesses.

Article 2 When a lender brings a private lending lawsuit to a people's court, it shall provide creditor's rights certificates such as IOUs, receipts, IOUs and other evidence that can prove the existence of a legal relationship between lending and borrowing. If the creditor's rights certificate such as IOUs, receipts and IOUs held by the parties does not specify the creditor, and the party holding the creditor's rights certificate brings a private lending lawsuit, the people's court shall accept it. The defendant raised a factual defense against the plaintiff's creditor qualification, and the people's court ruled that the plaintiff did not have the creditor qualification after examination and dismissed the prosecution.

Does China life insurance policy loan need the signature authorization of the insured?

Policy loans do not require the insured to go to the scene. Policy loans must be applied by the insured. If the applicant and the insured are not the same person, they must also carry the identity certificate of the insured and the written consent certificate signed by the insured, but the insured does not have to go to the scene.

How can I get a loan without the insured?

If the insured is not around and wants to borrow money, you can ask the insured to entrust you with the loan, copy his valid certificate and sign it, and then you can entrust the loan. You can contact the relevant staff for details.

Moreover, the policy insured can borrow money, because there is a requirement in the policy loan that the applicant must be the insured or the insured, and no one else can handle it on his behalf. Policy loans also need to meet the following conditions:

1. Only policies that have been insured for more than two years and have cash value can apply for loans;

2. Only policies with savings nature such as life insurance, dividend insurance, endowment insurance and annuity insurance can apply for loans;

3. The applicant must have a stable job and income and have the ability to repay;

4. Personal credit information is good and there is no bad credit behavior.

Policy loan refers to taking the policy as collateral, applying for a loan from the insurance company according to a certain proportion of the cash value of the policy, and returning the principal and interest at maturity. In the process of policy loan, as long as your policy has been valid, then insurance protection will not be affected.

Nowadays, pension insurance, investment dividend insurance and annuity insurance with savings function are increasingly appearing in the public eye. This kind of insurance has a certain cash value as long as the insured pays for more than two years. Value becomes an asset, and with assets, you can borrow money, so the policy becomes a certificate that can be used for mortgage loans.

Policy loan is suitable for short-term capital turnover, not for high-risk investment. Moreover, the mortgage loan time of insurance company's policy generally does not exceed 6 months. Once the borrower fails to repay the loan, the insurance company has the right to terminate the validity of the insurance contract when the loan principal and interest accumulate to the cash value of surrender.

At the same time, during the loan period, if the policy has various refunds, such as surrender, survival money, claims, etc. The refund amount needs to be paid before the balance can be paid.

Premium exemption means that when the insured loses the ability to renew insurance due to the insurance accident agreed in the contract, he can not continue to pay the premium after being approved by the insurance company, but the insurance contract is still valid and continues to enjoy the protection. This move, like a golden bell, firmly covers the protection brought by the policy. Even if the insured loses the ability to work due to an accident and cannot continue to pay the premium, the protection in the golden bell cover will not be damaged at all, and the insured can enjoy the stable protection without bearing economic pressure.

What are the terms of the policy loan?

To apply for a policy loan, the following conditions are required:

1. The applicant should be between 18-60 years old and be a legal citizen of Chinese mainland;

2. The applicant has a fixed residence and a stable job, and has the ability to repay;

3. The applicant's credit information is good and there is no bad credit behavior;

4. The insurance policy held by the insured must have cash value and have been insured for more than two years;

5. The policy loan must be applied in person and cannot be handled by others.

1. How to apply for a policy loan?

Compared with other loan methods, the procedure of policy loan is relatively simple, usually without guarantor, collateral audit and income proof, and the loan speed is faster.

Under normal circumstances, when the insured goes to the insurance company or bank to handle the policy loan business, he needs to bring the insurance policy, insurance payment invoice, ID card, passbook and other materials. It should be noted that this business must be signed by the insured. If the insured cannot be present in person, he may also issue a written statement to the insured in advance agreeing to the loan application.

For friends who need loans, Bian Xiao suggested that you confirm the relevant information with insurance companies and banks in advance.

2. Can you still make claims during the policy loan period?

During the policy loan period, if an insurance accident occurs, will the insurance company still pay the claim?

In fact, the policy is still valid during the pledge period. If an insurance accident occurs during the loan period, the insurance company still has to pay the claim, but before paying the claim, it needs to deduct the principal and interest owed.

Three. Matters needing attention in policy loans

Policy loans have a short term and generally need to be repaid within 6 months. If the borrower fails to repay the loan in time as agreed in the contract, it will not only pay the penalty interest, but also the policy will be permanently invalid when the principal and interest of the loan reach the surrender amount.

Therefore, although the policy loan can alleviate the short-term capital demand of the insured, Bian Xiao still suggests that you handle this business cautiously. If you apply for a policy loan, you must repay it on time, otherwise you will face triple losses such as penalty interest, invalid policy and poor credit information.