Loan on LIC policy

brijesh_shenoy

I have a LIC policy which I have been paying for last 5 years. Can I get loan on this policy? I am in need of some urgent money. Please help.

Vaani566

It is possible to get a loan on your LIC policy. You can either take out a loan against your policy or use your policy as collateral for a loan.

smallpanda100

Yes, you can get a loan on your LIC policy. The loan amount will depend on the surrender value of your policy. You can contact your LIC agent or visit the LIC website for more information.

Rachana399

Yes, you can get a loan on your LIC policy. The process is as follows:

-You can contact your LIC agent or branch office and request a loan application form.
-Fill out the form and submit it along with the required documents.
-The LIC will review your application and determine if you are eligible for a loan.
-If you are approved, the loan will be disbursed to you and you will need to start making repayments.

For more information, you can check out this link: https://www.licindia.in/Products/Loans-Against-Policy

Ayush593

Yes, you can get a loan on your LIC policy. The loan amount will depend on the surrender value of your policy and the terms of the loan. You can usually get a loan for up to 90% of the surrender value of your policy. The interest rate on the loan will be determined by the terms of the loan, but will usually be between 5% and 9%.

smallladybug

Yes, you can get a loan on your LIC policy. The LIC policy must have been in force for at least 3 years. The loan amount will be up to 90% of the surrender value of the policy. The interest rate on the loan will be 5% per annum. The loan must be repaid within 5 years.