Understanding the guaranteed loan 2004-8-19 Source: Securities Times Since last year, customers who use the guarantees of the insurance company or bank loans have gradually become increasing. Under the current policy of the current bank, insurance, insurance companies and banks implement policy loans not only achieve a win-win effect, but also provide a new service tool for the Chinese personal financial market. The warranty loan is a policy of policy owners to ensure short-term funding in accordance with the proportion of policy cash value. At present, there are two situations in my country: First, the insured will directly mortgage the policy to the insurance company, and directly from the insurance company, if the borrower expires to perform its debts, when the loan message reaches the amount, the insurance company terminates its insurance Contract effectiveness; the other is that the insured will mortgage the policy to the bank, pay loans by the bank, and the bank can repay the loan principal and interest according to the insurance company according to the contractual policy when the borrower cannot fulfill its debt. The three feature policy itself must have a cash value. The personal insurance contract is divided into two categories: one is a medical expense insurance and accidental injury insurance contract. Such contracts are lost compensatory contracts, like property insurance contracts, can not be used as a pledge; the other is a stock function Insurance, investment dividend insurance and annuity insurance contracts, such contracts, as long as the insured payment for more than one year, life insurance policy has a certain cash value, policyholders can request insurance companies to return part of cash value To achieve credit, this type of warrant can be used as a pledge. The deadline and loan quota are limited. At present, my country's guaranteed loan is shorter, generally no more than 6 months, the maximum loan balance does not exceed a certain proportion of policy cash value, this ratio has different provisions, generally at 70% -80%. The bank is more relaxed, usually 90%. After the expiration, the loan must be returned in time. Once the borrowing principal exceeds the policy cash value, the warranty will be permanently invalid. Paying loans should be charged. In my country, the interest rate of the current policy loan is relatively fixed, and its interest rate is calculated in accordance with the predetermined interest rate of the China Insurance Regulatory Commission and the higher bank loan interest rate, and the result is higher than the interest rate of calculating the value of the policy. The three major advantages were easy. For the insured, the insured does not need to guarantee people and income certificates, with only the policy, ID card, etc., all procedures can be completed in half an hour. Safe and efficient. For banks, the pledge is a valuable voucher with an insurance function. In case an accident, it cannot repay the loan in time. There is also a considerable amount of insurance premium under the name of the insured, and the insurance company can prioritize this funds according to the contract. Bank's loan principal, so the risk factor is almost zero. At the same time, the interest rate of policy loans is higher than that of the bank deposit rate, which can make banks get a bigger proficiency. Strong fluidity. For insurance companies, the company's business goal is to pursue profits to maximize profits, and profit depends on traffic volume, an important factor in restricting traffic is that the policy does not have liquidity. Opening a policy loan gives the life insurance policy, increasing customer volume, thus accelerating the development of insurance business. Four questions formulate corresponding rules. There is no detailed provisions on the transfer or pledge of life policy transfer or pledge in our insurance legislation and insurance terms. Expansion of insurance insurance in pledged loans. At present, my country's domestic insurance companies can provide a limited number of pledge warrants, and they cannot meet the needs of many insured people. Implement a banner. At present, insurance companies and banks do not have real-time networking. Banks are difficult to obtain insurance companies after receiving insurance devices, and there is still difficult to distinguish between this period. Therefore, the implementation of insurance companies and bank networking is imminent, of course, can be verified by email, fax, telephone, etc. before Silver Board. Launch a policy loan support securities.
