Share a good bank policy loan. The platform is characterized by low interest rate and very fast lending speed. Many users choose to borrow money here. In addition, the service is thoughtful, and professional consultants provide and help users, which is of great help to novice users.
The conditions for using policy loans are generally: the policy is effective for more than six months; The policy has cash value; Failing to pay the insurance policy in the past two years; The loan applicant has no malicious expectation record and good credit information; The applicant has a relatively stable source of income; Loan conditions stipulated by other banks. Generally speaking, only long-term insurance products with high cash value can make policy loans, and the amount of most policy loans is 70% or 80% of the cash value of the policy. The conditions for applying for a policy loan are as follows: the policy payment period is more than 3 years; The policy premium is paid annually, paid 1 year; The annual premium should be more than 2400 yuan; The policy for handling loans should have cash value, such as life insurance and endowment insurance; The applicant is between the ages of 22 and 55; The borrower has good credit and no bad record; The borrower has a stable job and income and the ability to repay the principal and interest; The borrower has a person with financial strength as a guarantee. Repayment methods of policy loans
Repay the principal and interest in one lump sum before the loan expires.
Repay in installments, and repay part of the principal and interest in a fixed amount every month.
The term of a policy loan is generally six months. If the loan expires and you want to continue the loan, you need to pay off the current interest first, and then renew the loan. The longest term of policy loans varies slightly from institution to institution, and some institutions can reach 36 months.
First of all, a policy loan needs a specific policy as collateral. Moreover, different types of insurance policies have different effects on loans. For example, life insurance policy, accident insurance policy and medical insurance can all be used as collateral, but the loan amount, interest rate and term between them will be different. Therefore, when choosing a policy loan, you need to choose the appropriate policy type according to your own situation. The conditions for applying for a policy loan are as follows: the applicant must be between 18-60 years old and be a legal citizen of Chinese mainland; The applicant has a fixed residence and a stable job, and has the ability to repay; The applicant's credit information is good and there is no bad credit behavior; The insurance policy held by the applicant must have cash value and have been insured for more than two years; Policy loans must be applied by myself, not by others. Personal credit record is also one of the important conditions for policy loans. Banks will evaluate the credit status of lenders through personal credit records. If there are credit problems such as default and overdue, it may affect the loan approval and interest rate. Therefore, when choosing a policy loan, you need to pay attention to your credit record and deal with credit problems in time. Policy value is an important factor affecting the loan amount of policy. Generally speaking, the higher the policy value, the more the loan amount. However, due to the types of policies, the reputation of insurance companies and other factors, the value of some policies may be different. Therefore, when making a policy loan, you need to know the value of the policy first and choose an insurance company with high credibility to pledge it.
Policy loans should pay attention to:
1, the policy loan speed is fast, and the general loan arrival time is 1-3 days. For small partners who are in urgent need of money, there is no need to worry about losing their protection because of surrender, and they can also avoid the losses caused by surrender, so policy loans are more suitable for people who need short-term capital turnover.
2. Policy loans must be applied by the applicant or the insured, and entrustment is not allowed. In addition, the policy loan applicant should be 18 years old and legally hold the policy, otherwise it will have no loan effect.
Since the insurance policy is used as collateral, there is no need to find someone to be the guarantor of the loan.
4. The general loan amount does not exceed a certain proportion of the cash value of the policy, and at the same time it needs to bear certain loan interest. For those customers who need cash flow in the short term, policy loan is a good choice, and its advantages mainly include:
First, when the policy is valid, the customer can continue to enjoy the insurance protection stipulated in the policy during the loan period. Compared with surrender, the insured need not worry about losing protection due to surrender, and can also avoid the loss of surrender fees.
Second, the policy loan processing method is simple. The insured only needs to bring the policy, valid identity certificate and written consent of the insured to apply for a loan to the insurance company in person. Taiping Life said that as long as the lender brings all the materials, the insurance company can complete the business on the same day.