How much loan can be taken against a Postal Life Insurance Policy ?

What is the interest rate for repayment ?

Is there any Processing Fee ?

What maximum period can be allowed for repayment ?

Is the Interest paid is deductible for Income Tax relief ?How much loan can be taken against a Postal Life Insurance Policy ?
Thanks for asking ,

Actually loan is available on whole life assurance , endowment assurance and convertible whole life assurance policies , you may taken a loan after 3 yrs of policy term but in case of whole life assurance its after 4 yrs.

In case of whole life assurance

between 4 to 7 yrs of policy term you have taken as loan - 60 % of surrender value

,, 8 to 12 ,, ,, ,, ,, ,, ,, - 80 % ,, ,,

more than 12 yrs of term its - 90 % of ,,

in case of endowment assurance and convertible whole life assurance

between 3 to 5 yrs - 60 % of S.V.

,, 5 to 10 - 80 % ,,

more than 10 yrs its 90 5 of S. V.

No any processing fee is required only fill up a loan application form ( LI-35) and send to DDM (PLI) along with policy document and premium receipt book.

Loan interest @ 10% p.a is calculated on six monthly basis.

No any period restriction for loan repayment. For more details you may contact with your trusted adviser.

HAVE A NICE DAY.