Take The Policy To Pledge The Loan &Nbsp; The Insurance Becomes The Loan New Channel.

The amount of bank loans is shrinking and private lending rates are higher and higher. Mr. Liu, who runs sporting goods in the capital city, has no choice but to seek the idea of short-term loans and hit the life insurance policy he bought in the past few years.

Reporters learned from 11 insurance companies in the provincial capital, taking the policy as the insurance company

In the provincial capital life insurance company insured by Mr. Liu, the counter staff told reporters that the policy loan is a way to obtain short-term loan funds from the insurance company as a pledge.

However, if you want to mortgage a policy loan, you usually need to pay two years after the insurance applicant has been paid, and the insurance contract will be established for two years before you can apply for it.

And only savings, such as life insurance, dividend insurance, pension insurance and annuity insurance, can be applied to the insurance company for loans.

"Health insurance, investment linked insurance and short-term accident insurance".

In addition, financial advisors of Taiping Life Insurance Company in provincial capital told reporters that the amount of loans that were insured by loans mostly did not exceed 80% of the cash value of the policy. The term of the loan was limited to 6 months. The interest rate of the loan was up to 10% on the basis of the bank interest rate of the same period, and when the loan was due, the principal and interest were settled together.

"As long as the insured is due to repay on time, and the policy continues to pay effectively, the policyholder can continue to make use of the policy mortgage loan."

In addition to the pledge of the policy in hand

The customer service staff of Ping An Property Insurance Company of Ji'nan told reporters that this kind of unsecured loan is essentially a personal loan secured by the insurance company as a credit guarantee to the cooperative bank. "Loan customers can not use funds for stocks, futures, etc.

The advantage is that the loan time is short, the fastest two working days can be paid, and the repayment is flexible, from 12 to 36 can be returned.

However, reporters understand that such unsecured loans need to pay premiums and interest rates equal to 1.3 times the benchmark interest rate, and can not be repaid in advance.

The reporter learned from the insurance supervision department of our province on the 11 day that the notice on regulating the business of personal insurance business issued by the CIRC clearly stipulates that the insurance company can provide policy insurance services to the insured individuals with long-term cash value, but the amount of the policy loan must not exceed the cash value of the policy. The loan interest rate should be determined according to the loan interest rate announced by the people's Bank, the company's own capital costs and risk control capabilities.

The industry suggested that although the loan is convenient, the insurance company should pay attention to the risk of default because of the financing of the insurance company, because once the maturity is not paid, it will not only bear the high default penalty, but also the protection function provided by the insurance policy will be lost.