Qianhai Life Insurance Policy Loan will arrive within six months. Qianhai Life Insurance Co., Ltd. has policy loan function as long as it is participating insurance. But the rates are high. Monthly interest rate 5. The loan period is 6 months. You also need to go to the counter to apply with your ID card and policy.
1. Things to note for insurance policy loans
1. Policy disbursement is fast, and the general disbursement and collection time is 1-3 days. For partners who are in urgent need of money, there is no need to worry about the loss of protection caused by the return of the margin, and they can also avoid losses caused by the return of the margin, so policy loans are suitable for people who need short-term capital turnover.
2. Policy loans must be applied for by the policy holder or the insured, and no entrustment is allowed. In addition, applicants for policy loans must be over 18 years old and legally hold insurance policies. Otherwise, there will be no loan effect.
Because it is secured by an insurance policy, there is no need to find someone to be the guarantor of the loan.
4. The loan amount generally does not exceed a certain proportion of the policy’s cash value, and a certain amount of loan interest is required.
5. Generally, in the case of insurance premium exemption, loans cannot be made for automatic advance payment of insurance premiums and insurance policies in which claims are being applied for. The specific situation varies depending on the terms of each insurance company.
6. After the loan repayment is completed, don’t forget to cancel the policy loan procedure.
2. Conditions for loaning insurance policies
1. The insurance policy must be valid for more than 6 months;
2. The insurance policy has certain commercial value;
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3. There has been no payment of the insurance policy in the past two years;
4. The lender’s credit status is good and there is no malicious overdue record;
5. The lender has a stable source of work income;
6. Other conditions stipulated by the bank.
In the "Notice of the China Insurance Regulatory Commission on Matters Concerning Further Improving the Actuarial System of Personal Insurance" published by the China Insurance Regulatory Commission, Article 4 clearly stipulates that when an insurance company provides policy loan services, the proportion of the policy loan shall not exceed the cash value of the policy. or 80 of the account value. Insurance companies are not allowed to accept credit cards from policyholders to pay personal insurance premiums with cash value and repay policy loans.