Loan against insurance policies from SBI: Interest rate, eligibility, processing charges and more – FULL GUIDE
Loan against insurance policies: Emergencies come unannounced and not having enough money to deal with them can take a great toll on an individual’s well-being. For situations like these are loans that people can seek from banks. However, if someone is unwilling to go to the bank for a loan, they may obtain one against insurance policies.
As the name also indicates, taking a loan against an insurance policy means borrowing money from the insurance company using the policy as collateral. An individual, who has a life insurance policy, may be able to take out a loan against the cash value of the policy.
