A policy is designed to provide financial cover to your family if something happens to you. Certain types of policies such as unit-linked and endowment plans also double up as investments. But now your insurance plan can also help you raise funds when you need it through a loan against insurance policy. A life insurance policy from LIC or other reputed private insurers is one of the securities you can use as a collateral to take a loan. You can get a loan against a list of approved policies. These include unit-linked plans, endowment plans, whole life plans and income plans from many insurers. However, a term insurance policy may not entitle you to a loan.
For availing Loan against your existing policy, you may contact us with all the relevant documents & information.Contact us