Policy loans adjusted position for you Insurance Tips

Category: Insurance tips Release Date: 2006-08-01

Million each year on the money to the insurance companies more and more families have to stay on much-needed cash flow, or unable to pay the premium from time to occur, the damage to surrender too much, and the back can not continue to enjoy insurance protection. How can "deposit" in the insurance company money "move up"? Policy loan is a good choice approach.

"Every time I hand tight, you think of those handed over to the insurance company money, because we really in the insurance on the significant expenditures. Listen to people say that if the surrender would be a great loss, it feels like the money ' death 'of the same hard to find back to within one or two decades. "his father's friends he is the one private owner, recently chatted about the insurance, he complained. The reporter knew Xu Xing, another friend of 5,6 months of this year received a garment export orders fall, smart, he thought of the several policy Crimping drawer, hoping that it would be part of the funds transferred from the insurance company . Insurance Company, after audit, to determine their family's five copies of policies, for there were three can be used for loans, Mr. Xu and his wife immediately made a reservation three days after which they excitedly took home 100,000 yuan.

Do not let your money be "Paul dead"
In fact, Mr. Zhang's understanding of insurance with a universal, the Government still needs to be raised; while Mr. Xu is the flexibility in the use of the insurance companies of "policy loan" service. Hand, residents of long-term insurance policies, the situation in case of urgent need for money is entirely possible by the company to provide a "policy loan" service, "make an inventory of" has paid insurance premiums.

For properties bought with the savings and insurance clients, like the insurance company opened a long-term account, the account will fall with each period of accumulation of gold value (which is a term insurance means that if you surrender from the insurance company to take back the money, on this interpretation of the content can be found in Articles No. 159), Customer halfway hurry to use the money to the insurance company can apply for insurance ahead of time this would have on the return of their own money in advance .

But, since the two sides began 20 years the insurance companies agreed to provide customers with protection, 20 years after the expiry of the money back to customers, but customers need to early withdrawals, will have to pay a certain interest loss to the insurance company. Of course, the customer through "policy loans" after the transfer of the position, also need to re-deposit the money back to insurance company accounts, otherwise they will not continue to secure the role of the.

Not all policies can borrow
It is worth recalling that the insurance policy loan service only to have a cash value of insurance policies to carry out. That is not all of the policies can be borrowing, and only a savings of life insurance, long-term health insurance, bonus-based insurance and pension insurance, annuities and insurance contracts of life insurance policies before they can apply for loans, while the accident insurance, short-term health insurance investment-linked insurance and universal life insurance, because there is no cash value or cash uncontrollable fluctuations in the value and therefore do not have the collateral loan functions.

The policy may borrow money, guarantor must pay the premiums in more than a year before being used for processing mortgage.

Policy loans with special advantages
Speaking of borrowing, at present, a variety of home loans, auto loans, study loans, large consumer loans, we are all familiar, and even there are people who try to pawn loans. So, the policy loan edges where? "Policy loan's greatest strength is that it does not require any income, financial or guarantee that, because this policy has a cash value of the insurance company itself had been audited, the money has always been the customer's own. Insurance policy loan is actually prepayment premiums on the insured. "Ping An Life Insurance Shanghai Branch Customer Service Manager, WANG Pei-min told reporters.

In addition, the general insurance policy provided by the borrower has a "infinite renew" a unique feature: customer per loan period of 6 months, but as long as payment policy effective and expiration time when they can pay interest on borrowings to continue through, each time by the same 6 months, and unlimited number of renewals until the loan principal and interest on the accumulated total of more than immediate cash value policies.

Moreover, the policy loan repayment time and amount of choice at any time by the client according to their decisions, very flexible. In addition, interest on borrowings is calculated to the day, customers can avoid the unnecessary loss of profits.

"Policy loans can be used both temporarily can not afford to pay the premiums can also be used for other cash-flow. Notwithstanding the need to take some interest, but, after all, could relieve the immediate problems, they can maintain the validity of the original policy. Right to a temporary economic difficult customers, is a better choice can be a way and means of finance. "WANG Pei-min managers think so.

The borrower can still enjoy the protection of the period
Policy loans to maintain the effectiveness of the policy? - Is indeed the case. According to regulations, the policy cash value, the borrower to pledge to the insurance public, our customers have been able to enjoy all the insurance coverage will not be affected, if there was need for insurance, accident claims, insurance companies, customers should repay the loan will be the principal and After the interest deduction, and then pay the remaining amount to the customer.

Recently the industry has a case: Last year in October, Dongshan District, Guangzhou, Mr. Li because of the need financing, he has a sum insured is 200,000 yuan in Ping longevity insurance policy, upon application, insurance companies, according to his insurance policy cash value of his loan of 4 million yuan. Unfortunately, the loan 3 months after the day, Mr. Lee took place on the highway accident death. Insurance company under the insurance contract, after deducting the loan principal and interest, to his family paid 15 million. Two

Policy loans to specific operations
"Policy loan is very simple, the insured ID card as long as I bring along the original, the original policy to the Secretary for Policy Service Center counter, personally approved a loan agreement can fill out the." Ping An Life Insurance Shanghai Branch Customer Service Department to preserve room Miss Li Qiong Introductionè­?

"5 million or less of the loan, the customer after finishing the procedures, we can immediately receive the cash. Of more than 50,000 yuan loan, advance reservations a day or two also do. Of course, the customers to provide a bank account, we can transfer The time for the 1 ~ 2 days. "Qiong Li told reporters.

In general, the policy can not exceed the amount of borrowing the cash value of insurance policies at that time a certain percentage, mostly in the 70% ~ 80%.

Policy loan interest rates are relatively fixed, as far as loan insurance and insurance purchased in different time, individual companies will vary. For example, Shanghai is now safe borrowing policy can be dozens of business insurance products, because the selling of insurance policies at the time scheduled time and the interest rate difference between its borrowing interest rate is now divided into a 7.5%, 6.5%, 5.544% and 5.04% four different grades.

With the cash loan value adjustment
It is worth recalling that, due to the policy loan is based on the policy itself contains a cash value of the cash value of the amount is in accordance with certain cases to provide, so when the cash value of the policy itself is changed, if the loan not yet paid off, in order to guard against risks to ensure that the sum of loan principal and interest does not exceed the policy cash value, this time Insurance Department will review customer's borrowing limits and adjustments.

Currently on the market there is a "back to this type" insurance, most of them in 2035 returned to the customer, every part of the "survival money" or "Education marriage gold." In this way, fruit loan customers receive a portion of which occurred during the survival of payment situation, we may easily lead to a sudden decline in cash value policies, this time it will consider submitting insurance companies more than the total number of loanable amount of principal or interest on borrowings directly deducted, and then pay Customer interest payments.

For example, a person in August this year, the policy loan made to an insurance application, when his insurance policy cash value is 5 million yuan, the highest ratio of loans to 80% of the policy cash value, loan annual interest rate of 5.04%. He lent over 40,000 yuan. Two months later, by October, just hit that he could get 2,000 yuan a "regular return of gold." In this way, the cash value of his policy fell to 48,000 yuan, he lowered the maximum loan amount of 38.4 thousand yuan. By this time he has accumulated the sum of loan principal and interest to 40,336 yuan, more than the immediate cash value insurance policy provides 80% limit over the amount of 1936 yuan.

Therefore, the insurance company will be asked to minus this part of the excess borrowing principal and interest, which is 1936 yuan deducted first, and then pay the agreed "on a regular basis to return gold." In other words, the client then only get back 64 yuan, "on a regular basis back to the principal," and the remaining part of 1936 yuan is tantamount to the early repayment of the loan policy. Since then, he was principal of the loan insurance policy 38400 is the only place in the future will be 38.4 thousand yuan for the principal, from the beginning of the day re-calculating interest.