1. How to get a life insurance loan in China

The general process of a life insurance policy loan is as follows:

1. Confirm whether the policy is a savings-type life insurance, dividend insurance and Function.

2. The policyholder and the insurer agree in writing to the loan application.

3. The insurance company will review the materials and can complete the review on the same day if the materials are complete.

4. The loan will be transferred to the lender's designated agent bank account, usually within 1-3 days Arrive.

Policy loans are loans obtained from insurance companies taking advantage of life insurance policies. The one-time loan amount of this type of loan depends on the effective year of the policy; the age of the insured when the policy is issued, and the amount of death benefit.

Basic type

Short-term interest has no cash value, or policy loans are currently available. Although cash value is an important factor in assessing whether a policy can be borrowed, not only the type with a higher cash value is an example of investment-linked insurance.

As a type of insurance with investment functions, investment-linked insurance with a premium of more than RMB 100,000 can accumulate considerable cash value. "Although investment-linked insurance has a cash value, because the value changes with the investment unit, policy loans generally cannot be carried out."

Quota interest rate

Lenders are most concerned about the quota, Time and interest rates. Similar to a general pledge, the reference indicator for the policy loan limit is the "cash value" of the policy. According to regulations, the policy loan limit is calculated based on a ratio, which varies from company to company. For example, Pacific, China Life and Taiping Life require 80%; AIA 80%; Allianz China-Germany. A reporter from Financial Weekly said: "Because the standards for policy loans are not very different between companies."

Policy loan for 6 months. There are also companies that can automatically renew the loan after maturity.

Policy loan interest rates are different from bank commercial loan interest rates. The most common one is "the two-year resident regular savings ratio promulgated by the People's Bank of China on the first business day of each month for the same period, whichever is greater" 2.0% to determine the interest rate.

Taiping Life implements the above calculation method, and its relevant people’s calculation demonstration: the annual interest rate of the policy loan corresponding to the two-year resident regular savings issued in 200 is 5.96%. Since the maximum term of each loan is 6 months, the policy loan will accrue interest every 6 months.

If the repayment period is less than 6 months, it will be calculated based on the number of days. For different types of insurance policies, such as certain bonus insurance policies of Ping An, the policy loan interest rate is 5.22%.

2. How to get a loan from China Life Insurance

The conditions for borrowing from China Life Insurance are: 1. The applicant has paid policy premiums for more than 2 years and has a certain cash value. 2. The policy purchased by the applicant allows users to make loans, such as savings insurance, participating insurance, annuity insurance, etc. 3. The applicant has stable and legal income. 4. The applicant’s loan purpose is for, not stock investment, etc. 5. Other conditions stipulated by China Life. The loan steps are: 1. For China Life policy loans, you need to prepare all the required documents for the loan, submit the application to the lending institution, and wait for the institution to review the lender's information; 2. After passing the review, the bank will determine the loan amount and sign a loan agreement with the borrower. Contract; 3. After the contract is signed, the insurance policy is left to the lending institution as collateral to issue the loan; the borrower repays the principal and interest according to the contract. The required conditions are: 1. Aged 18-60 years old; 2. Citizens who can provide legal and valid identity certificates; 3. Have a stable job and stable economic income in the location where the loan is located; 4. Have no bad credit record and meet the requirements of the loan application. Credit requirements. Strictly speaking, policy loans are mortgage loans, and the collateral is the policy. During the mortgage process, the insurance protection is not affected. The mortgage for most policy loans is the cash value of the underlying policy, and most insurance types are "life insurance." , the amount of the policy depends on the effective year of the policy, the age of the insured, the amount of death benefit, etc. To put it simply, the amount of the policy loan is related to the number of years of policy coverage and the age of the insured, and generally will not exceed the death benefit amount. However, each insurance company has different regulations on policy loans. Generally, it only supports loans for endowment insurance, whole life insurance, pension insurance, universal insurance, etc. Other short-term insurance does not support this loan. In short, the amount of the policy loan is related to the cash value of the policy, which can be found in the insurance contract. Assuming that the cash value of the policy is about 20,000 yuan, the loan will generally not exceed 20,000 yuan. As the policy increases, the cash value of the policy will also increase, and so will the loan amount.

3. How can the insured of China Life Insurance get a loan?

This is possible. There must be economic or legally recognized insurance interests between the policy holder and the insured, otherwise the contract will not be established

4. How to apply for a loan online for a life insurance policy?

. Prepare all the information required for the policy, including the original personal ID card (if the policy applicant and the insured are not the same person, the original ID card of the insured must also be prepared), the original insurance policy, Please provide the information specified by the bank and life insurance company and apply for a loan at the life insurance company's counter.

2. The counter staff accepts the application and reviews the information.

3. After passing the review, the insurance company will determine the loan amount and sign a loan contract with the borrower.

After the contract is signed, the policy is left with the insurance company as collateral, and the insurance company issues a loan.

Application materials:

1. Insurance policy with cash value;

2. Copy of ID card and bank card

3. The insured person comes to the insurance company alone to handle the matter, and the signature and consent of the insured must be obtained.