LOANS
LIC Policy Loans
The Corporation can grant a loan to the policyholder against his policy as per the terms and conditions applicable to the policy. The requirements for granting a loan are as under :
a) Application for loan with an endorsement of terms and conditions of the loan being placed on the policy.
b) Policy to be assigned absolutely in favour of the Corporation.
c) A receipt for the loan amount.
The maximum loan amount available under the policy is 90% of the Surrender Value of the policy (85% in case of paid up policies) including cash value of bonus.
The rate of interest charged on loans is at 9% to be paid half-yearly. The minimum period for which a loan can be granted is six months from the date of its payment. If repayment of loan is desired within this period the interest for the minimum period of six months will have to be paid. In case the policy becomes a claim either by maturity or death within six months from the date of loan interest will be charged only upto the date of maturity/death.
I liked up to you’ll obtain performed proper here. The comic strip is attractive, your authored material stylish. nonetheless, you command get got an impatience over that you want be handing over the following. sick surely come more formerly once more as precisely the similar nearly very often inside case you shield this hike.
I do accept as true with all of the ideas you have presented for your post. They’re really convincing and will certainly work. Nonetheless, the posts are too brief for starters. May just you please prolong them a bit from next time? Thank you for the post.
Its like you learn my mind! You seem to understand a lot approximately this, like you wrote the ebook in it or something. I believe that you could do with some % to force the message home a bit, however instead of that, this is great blog. An excellent read. I will certainly be back.