How to get loan on LIC Policies

[Master]

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.

[rohit]

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.