Results 1 to 4 of 4

Thread: How to get loan on LIC Policies

  1. #1
    PolicyWala NewBie
    Join Date
    May 2009
    Location
    Navi Mumbai
    Posts
    3

    Question How to get loan on LIC Policies

    I have three LIC Policies. Due to some personal requirement I need loan. Could you please let me know what is the procedure of getting loan from LIC on LIC Policies.

    Thanks in advance


  2. #2
    PW Stalwart Master's Avatar
    Join Date
    Feb 2009
    Location
    Mumbai
    Posts
    472

    Default

    As per licindia.com

    Availing Loans On Policies
    • Many of our plans are of endowment type and you would be allowed to raise a loan against your policy should you require funds.
    • You repay the loan with interest or continue paying the interest and allow the loan to be deducted at the time of the claim payments.
    • Further loans on policies are also allowed after deduction of earlier out standings.
    • Most financial institutions too allow loans against LIC policies based on the value LIC quotes on request from you


    Hope this will help.

  3. #3
    PolicyWala Fan rohit's Avatar
    Join Date
    Feb 2009
    Location
    Bhopal
    Posts
    87

    Default

    Keep this thing in mind that you can avail loan on the LIC policy but the loan value should not exceed the surrender value of the policy.

  4. #4
    PW Guru Manish_Kumar's Avatar
    Join Date
    Apr 2009
    Location
    Patna
    Posts
    237

    Default

    Use following calculator to calculate the loan amount - Link
    Everyone has a scheme of getting rich.. Which never works.


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •