If the policy loan is not paid off, you can surrender it, and you don't have to pay it off in full.
1, policy loans generally do not affect surrender. After surrender, the insurance company will no longer bear any insurance liability. I suggest you think it over. The surrender premium shall be refunded according to the cash value. Usually, there will be a corresponding cash value table at the end of each policy year after the insurance contract is signed. You can have a look.
2. Policy loan, as the name implies, the insured mortgages the policy to the bank and obtains a loan from the latter. Because it is a mortgage loan, not all policies can be used for policy loans. Policy loans can only use cash value policies.
1. Under normal circumstances, the amount of the policy loan does not exceed 80% of the cash value of the policy, and the cash value of the policy is related to the specific types of insurance, the premium paid and the insurance year. If the insurance cost is higher and the insurance period is longer, the policy loan amount will be higher.
2.2. Under normal circumstances, 70%-80% of the premium paid can be loaned, but the premium has not been paid in full; If all the premiums are paid, the loan amount is the insurance amount this year.
Advantages of policy mortgage
1. Rights protection will not be affected.
2. Convenient applications
3. Low interest rates
4. Ping An Insurance doesn't want to be insured, so it takes a policy loan. If the customer fails to repay the due loan and loan interest, the unpaid policy loan and accumulated loan interest constitute a new policy loan, and the equity maturity date is calculated according to the policy loan interest rate of the next day. If the customer partially repays the loan, it will also be used to repay the accumulated interest first, and then the principal will be lent.
5. If the borrower fails to perform the debt within the time limit, 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.
6. The cash value of the loan obtained by the insurance company is guaranteed by the life insurance policy. The one-time loan amount of such loans depends on the validity period of the policy; The amount of age and death compensation guaranteed when issuing the policy. Although recent insurance policies usually only allow borrowing at the interest rate in the money market, the interest rate of such loans to policy holders is often lower than the market interest rate.
7. If the insured fails to repay the loan, the loan principal and interest will be deducted from the death compensation in the life insurance policy. Usually, policy loans can only be used for "cash value" policies.
8. The nature of long-term life insurance savings such as endowment insurance, whole life insurance, endowment insurance, universal insurance and dividend insurance is that they have cash value after being insured for one year. The longer the payment time, the higher the accumulated cash value. These policies can usually implement policy loans, but the specific situation depends on the specific terms in the insurance contract.
I hope I can help you.
Ping An Pratt & Whitney Interest Refund and Surrender Process
The interest refund and surrender process of Ping An Pratt & Whitney: Calculate the annual interest rate of your loan, because as long as it is as high as 36% or more as stipulated by law, you can recover part of the interest;
2. Find loan details, contract details and policy details in Ping An Pratt & Whitney app. According to the interest rate inside, calculate the amount to be repaid, including interest, premium and service fee. Then contact Ping An's customer service to submit an application for interest refund and surrender, and then wait for follow-up feedback.
I. Description of Ping An Pratt & Whitney Refund
How to refund the fee for online loan Pratt & Whitney
Pratt & Whitney online loan will generate several illegal fees.
Service fee, guarantee fee and handling fee are all illegal operations and are not protected by the platform itself, which means that the borrower can not repay these three illegal fees, which does not mean that it will not be repaid directly. Here, we need to negotiate with the lending platform to refund these three fees.
In addition, according to the latest national regulations, the annual interest rate of the loan is 15.4%, and the excess is not protected. Paying off debts is a matter of course. Since I borrowed it myself, no matter what the reason was, the reasonable and compliant principal and interest should be returned normally.
Second, we can refuse to refund unreasonable fees. It is true that you helped me when I was in trouble, but this does not cover up the unreasonable fees charged by the platform.
The only way to refund the fee is to negotiate with the loan platform to reduce the unreasonable three fees and the interest exceeding the annual interest rate of 15.4%. It should be noted that this kind of negotiated refund can only be negotiated if you have not repaid it in full by installments.
It's simple. If you borrowed 10000 12 from Pratt & Whitney, you have already paid back 12, and it is basically impossible to negotiate again. This has been put in the pocket of the platform. Surely it is impossible to return it?
If you want to refund the fee, you must remember to negotiate with Pratt & Whitney to refund the fee before you repay the loan. Be careful to negotiate with the platform, not with the third-party collection company, and any plan promised by the company should be collected. The result is invalid.
Third, the insurance premium and service fee of Ping An Pratt & Whitney are included in the interest. In the Ping An Pratt & Whitney loan, the bank lends money indirectly, so why did the bank lend you money? Ping An Pratt & Whitney came forward and asked China Property Insurance to guarantee it in the form of insurance, so that you have insurance premiums every month and other banks only lend you money. In this guarantee, China Property Insurance covers 99%, and the remaining 1% comes from Ping An Pratt & Whitney, so there is a monthly guarantee fee, and the remaining service fee is Ping An Pratt & Whitney. The above is the interest you want to pay back, and there are no other expenses. These are all transparent, and the interest is based on the credit report.
Ping An Company has loans overdue. Can Ping An Insurance be surrendered?
The applicant has the right to surrender and return the cash value of the policy. According to the insurance law, the policy is not affected by the debt, and the insured can apply for insurance, which is not affected by the loan debt. China Ping An Insurance Co., Ltd., 1988, from Shekou, Shenzhen. It is the first joint-stock insurance enterprise in China and has developed into an integrated, compact and diversified comprehensive financial service group integrating financial insurance, banking and investment.
Insurance FAQ:
1, what about the insurance company
Insurance products are not like commodities, and the quality of commodities is related to brands. The strength of insurance companies is not directly related to the quality of insurance products. Big companies also have bad products. No matter how strong the insurance company is, it doesn't mean that all the insurance in the family is worth buying. So there is no point in pestering insurance companies. Finally, it depends on the insurance terms, whether the product meets its own budget, and whether the physical condition can be informed by health. Buying insurance means buying products and buying coverage. Determine the insured amount, then look at the products in combination with the budget and choose the right products. The CBRC once reminded consumers that buying insurance should start from four aspects: demand, product, income and terms.
I want to buy a good insurance. How to choose?
Buying insurance must first recognize your own needs, just like paying attention to the right medicine when seeing a doctor. Insurance products that meet their own needs and have reasonable prices are good products. To put it simply, first locate what problems you want to solve and what insurance should you focus on? How much are you willing to pay (how much insurance)? Which aspect should insurance products pay attention to, the same price, high coverage and good service, or good protection for a certain disease? How is your health? Can you meet the requirements and buy satisfactory things? Every product will have subtle differences in the guarantee responsibility, and the price difference of 5%- 10% is understandable, but if it is almost the same guarantee, the price difference is 50%, or even more than double, and this premium is a bit pitted.
3. How to calculate the deductible and how high to choose?
A simple understanding of deductible is the amount of money you actually pay, except for social welfare reimbursement such as medical insurance, and you can get claims for the excess. There are good and bad deductibles. The good thing is that its appearance has greatly reduced the premium. For example, millions of medical insurance can be reported to millions now, which was unimaginable when there was no deductible in the past. Products with zero deductible have low risk or only cancer protection. The premium will also go up. The inconvenience is that the limitation of deductible makes the utilization rate very low. At present, the average hospitalization expenses are deducted more than 7,000 yuan, and the deductible line of 1 0,000 yuan is just at this point. Therefore, in practical application, only serious illness can be reported, which is difficult to use at ordinary times.
How does Ping An Pratt & Whitney refund the insurance premium?
Call Ping An HP Customer Service Hotline at 400-858-0580 to return the goods. Ping An Pratt & Whitney insurance premium is generally charged when handling loans. If you can get a refund, you can call the customer service hotline. Under normal circumstances, you can't charge other fees except interest for handling loans according to regulations. If the customer service says it can be returned, it will generally inform the process; If you can't return it, you can complain or go through judicial procedures.
Ping An Pratt & Whitney is the general name of the companies under the joint venture company of China Ping An Insurance (Group) Co., Ltd. that carry out financing guarantee, financing consultation and other businesses. Mainly for small and micro business owners, individual industrial and commercial households, ordinary wage earners and so on. , users can apply according to their own reality.
Ping An Pratt & Whitney provides different types of loan services, including car owners' loans, housing e-commerce loans, owners' loans, life insurance loans and wage loans. When handling, different loan types, different credit lines and different conditions. After handling, they should repay the loan on time as stipulated in the contract, and cannot be overdue.
Loans overdue handled by Ping An Pratt & Whitney will generate penalty interest, and overdue records will be uploaded to the credit information center, resulting in poor personal credit information. After the arrears are returned, they will remain in the credit report for 5 years and disappear automatically after 5 years. If not, it will remain on the credit report.
How to ask Ping An Pratt & Whitney to refund the premium and service fee?
How does Ping An Pratt & Whitney refund the premium and service fee?
After discovering that the funds are repaid with "collateral" insurance, you can check your loan contract to see if there are any illegal acts such as coercion, default inspection and collateral insurance sales in the contract. You should also calculate the personal loan interest and whether there are any non-refundable extra expenses.
After all this, we will call Ping An Pratt & Whitney Customer Service at 400-858-0580 to apply for a refund of the insurance premium and service fee, and then follow the prompts to refund the fee. It's best to record the whole call.
If Ping An Pratt & Whitney refuses to refund the insurance premium and service fee, we can call China Banking Regulatory Commission (12378/01662791kloc-0/3) to make a complaint. As long as the evidence is conclusive, the success of refund is certain.
Is Ping An Pratt & Whitney's premium service fee compliant?
Ping An Pratt & Whitney Loan is a loan product of Ping An Hewlett-Packard Company, also called Ping An Hewlett-Packard Life Insurance Loan. That is, after the customer is insured, the amount of application for Ping An HP loan is approved in seconds, and even some users have insured Ping An HP life insurance loan without knowing it. So is this charging method compliant?
As early as 20 19, China Banking Regulatory Commission issued regulations that loans should not be bundled with insurance, that users should not be deceived or forced to buy insurance by default or compulsory inspection, and that funds management fees, service fees and other fees should not be charged except loan interest fees. Therefore, this behavior of Ping An Pratt & Whitney is an unreasonable mode of operation and violates the protection of consumers' rights and interests.
What do you need to pay attention to when refunding Ping An Pratt & Whitney?
Be sure to calculate your loan interest rate before refunding the fee. If the annual interest rate is higher than 36%, you can recover a lot of interest, which is also evidence of Ping An Pratt & Whitney's irregular operation.
Customer service generally won't agree to your surrender. From the beginning to the end of the call, we can record or screen the whole process to maintain our good tone and mentality. If the customer service doesn't agree, we can complain to the CBRC and provide evidence to prove that Ping An Pratt & Whitney loan is compulsory, with an annual interest rate higher than 36%, and Ping An HP staff refuses to surrender. In the process of refund, we must calmly collect evidence and report it through formal channels.
Therefore, we must be vigilant when applying for online loans, avoid all kinds of excuses and compulsory purchase fees, and avoid falling into the routine.
Does it matter if you surrender through Ping An policy loan?
Does not affect.
According to today's headline information, Ping An policy loan will not affect the surrender procedures. Just follow the normal surrender process of Ping An Insurance Company.
Ping An policy loan means that the insured can apply for a policy loan from the insurance company with the consent of the insurance company within the validity period of the main insurance contract after the contract takes effect for a certain period of time.