Date : 19.7.2016
PLI / RPLI  LOAN TIPS

1. Loan is admissible on Whole Life Assurance (WLA), Endowment Assurance (EA) and Convertible Whole Life Assurance (CWLA) policies.
2. Currency of policy should be minimum of 3 years in case of EA and CWLA.
3. Currency of policy should be minimum of four years in case of WLA.
4. Policy should be unencumbered/ unassigned.
   
5. Loan Limit:
   
   

   (a) Whole Life Assurance
   Currency of Policy	Percentage of surrender value onwhich loan is admissible
   More than 4 years to 7 years	60%
   More than 7 years to 12 years	80%
   More than 12 years	90%

   
   

   (b) Endowment Assurance and Convertible Whole Life Assurance
   Currency of Policy	Percentage of surrender value onwhich loan is admissible
   More than 3 years to 5 years	60%
   More than 5 years to 10 years	80%
   More than 10 years	90%

6. Second and subsequent loan is admissible after a year if the first loan is fully repaid.
7. Loan interest @ 10% p.a is calculated on six monthly basis.