2. The maximum amount of the loan. It depends on how many years you bought it, mainly according to the new insurance law, that is, before 2009 10. The maximum loan amount is 70% of the cash value, followed by 80% of the cash value.
3. The interest rate of the loan. Every company is different. Before 20 1 1, China Life was 5.56%, and after 20 1 1, it was 6.56%. This is floating, mainly because the company is formulated under the premise of legal compliance.
4. Borrowing time. China Life's longest loan period is 6 months. This does not mean that it can only be borrowed for six months, but only once every six months. The trial calculation of your loan is also based on this time. If you can't repay after 6 months, you can continue to accumulate loans without any formalities.
Cumulative square test: loan principal +6 months loan interest = refinancing principal. Then calculate the loan interest with the new loan principal until the cash value is not enough to pay the loan.
Emphasize that the loan interest rate will be settled on the repayment date. If your insurance contract expires, the loan interest will still be calculated, so it is the responsibility and obligation of the insured to repay the loan as soon as possible.
(The content of this article is contributed by Baidu knowing netizen Joe)