What is the maximum amount of policy loan? There are still many bank loans in recent years, including small loan companies and p2p lending platforms. The existing policy loans are basically based on the specific insured amount of the policy and the qualifications of the applicant. The specific approval amount is still subject to approval. The existing single-family maximum amount is 500,000. Good qualifications. If you don't remember the consequences, you can apply for three or four loans. At most, it still needs practical operation to complete.
Second, how much can a policy loan borrow at most?
The policy amount is determined according to the cash value of your policy, which generally does not exceed 80% of the cash value of your policy. The cash value of each insurance policy is different. There is a cash value table in the insurance contract, and the cash value is different every year.
The following types of policies cannot be processed:
1. Short-term accident insurance and health insurance cannot be loaned because they have no or very low cash value;
2. Medical expenses insurance, property insurance without mortgage conditions, and children's insurance with premium exemption function cannot apply for loans;
3. Investment-linked insurance with a premium of more than 6,543,800 yuan can quickly accumulate considerable cash value, but its value cannot be determined because it fluctuates with the price of the investment unit.
3. What is the maximum loan for the policy loan?
The loanable amount is 70%-90% of the cash value of the policy agreed by most companies.
Different companies have different regulations on the amount that can be borrowed from insurance policies. Most companies agree that the cash value of the policy is 7%. Taking an insurance company in Jiujiang as an example, the minimum loan amount is not lower than that in 500 yuan, and the accumulated loan amount does not exceed the specific provisions in the loan terms of the insurance contract. General products are agreed not to exceed 70% of the cash value, and some products are agreed not to exceed%.
If the large loan exceeds 200,000, I need to handle it myself. If calculated by 70%, a traditional life insurance policy with a cash value of 200,000 yuan can be × 70% =140,000 yuan.
At present, the annual interest rate of policy loans promoted by insurance companies is generally between 5% and 7%, and the term is generally half a year. Some policies can also apply for the function of not repaying the principal, not renewing the insurance and paying interest in installments. This means that the actual loan period can be as long as 1-2 years. Compared with the cumbersome procedures for banks to handle loans, many policyholders can consider using policies with the function of policy loans to go to insurance companies to handle loans.
Extended data:
The general manager of a life insurance company said that the insurance demand has undergone subtle changes in recent years. Few customers would have thought of using the function of policy loan before. Now, more and more customers regard capital flow as an important means. Compared with bank loans, policy loans have the characteristics of convenient procedures and low interest rates.
If some customers borrow money and don't pay it back, or people's interests are damaged. If you don't repay the loan on time, or borrow money, when the policy contract expires, you will deduct the unpaid arrears and the insurance money that needs to be paid by the insurance company or the accident that needs to be paid by the insurance company.