जीवन विमा (life insurance) सुरक्षित भविष्यासाठी खूप महत्त्वाचा आहे. हे तुमच्या अनुपस्थितीतही तुमच्या प्रियजनांचे फायनान्शियल कल्याण सुनिश्चित करण्यास मदत करते. पॉलिसी टर्म दरम्यान पॉलिसीधारकाचा दुर्दैवी मृत्यू झाल्यास, इन्श्युरर नॉमिनीला लंपसम रक्कम प्रदान करतो. हा सपोर्ट अवलंबून असलेल्यांना दैनंदिन खर्च मॅनेज करण्यास आणि कोणत्याही फायनान्शियल तणावाचा सामना न करता त्यांचे जीवनमान राखण्यास मदत करतो.
तथापि, आणखी एक लाभ आहे ज्याचा अनेक लोकांना माहिती नाही. फायनान्शियल आपत्कालीन परिस्थितीत त्वरित फंड ॲक्सेस करण्यासाठी लाईफ विमा पॉलिसी देखील वापरली जाऊ शकते. तुम्ही तुमचे कव्हर सरेंडर न करता लाईफ विमा पॉलिसी वर लोन प्राप्त करू शकता. हे जलद लिक्विडिटी, निरंतर संरक्षण आणि स्पर्धात्मक व्याजदर यासारखे लाभ ऑफर करते.
या ब्लॉगमध्ये, आम्ही लोन अगेंस्ट विमा म्हणजे काय, ते कसे काम करते, त्याच्या वैशिष्ट्ये, लाभ, पात्रता निकष आणि बरेच काही तपशीलवार स्पष्ट करू. वाचत राहा.
जीवन विमा पॉलिसीवर लोन म्हणजे काय?
लाईफ विमा पॉलिसी वर लोन हे एक सिक्युअर्ड लोन आहे जिथे तुम्ही तुमची पात्र लाईफ विमा पॉलिसी कोलॅटरल म्हणून फंड लोन घेण्यासाठी गहाण ठेवता. लेंडर पॉलिसीच्या सरेंडर वॅल्यूवर आधारित लोन रक्कम ऑफर करतो. तुम्हाला तुमची पॉलिसी विकण्याची किंवा कॅन्सल करण्याची गरज नाही.
Your policy continues as usual, and you still enjoy life cover and other benefits during the loan tenure. This is different from surrendering the policy, which typically ends the cover.
You can use the borrowed amount for various needs, such as medical emergencies, education, business expenses, or personal requirements.
How does a loan against a life insurance policy work?
In a loan against a life insurance policy, your policy is assigned to the lender as security or collateral. The maximum loan amount is based on the policy’s surrender value. Most lending institutions allow you to borrow up to 90% of this value.
You continue to pay interest during the loan tenure, and your policy remains active. Repayment is usually made through EMIs (Equated Monthly Installments). They typically include both interest and principal components.
If you fail to repay the loan amount, the lender may seize your policy to recover its dues. After deducting the outstanding balance amount from the surrender value, the remaining amount is paid to the nominee.
Key features and benefits of a loan against a life insurance policy
A loan against a life insurance policy can be a highly useful option during emergencies or for meeting short-term needs. It offers a practical way to access funds without disturbing your long-term financial security. Since it is a secured loan, it usually comes with lower interest rates, quick processing, and minimal documentation. You can also benefit from flexible repayment options while continuing to enjoy the life cover.
Fast access to funds without policy closure
One of the biggest advantages of a loan on a life insurance policy is quick access to funds. You can apply for it online and get the funds in your bank account within a few minutes. You do not have to run from pillar to post or surrender your policy. It not only helps in saving your precious time but also provides adequate liquidity during a financial crisis.
लवचिक रिपेमेंट पर्याय
Most lenders offer flexible repayment options for these loans. For example, you can choose to pay only the interest during the loan tenure. The principal amount can be paid in a single bullet payment at loan closure. Some lenders also allow you to make prepayments without any additional charges. This gives you control over your cash flow and allows you to plan your repayment based on your income.
Continue enjoying life cover benefits
Your life insurance policy stays active even after taking the loan. You and your family continue to enjoy the benefits of the policy. There is no change in coverage if EMI payments are made on time. However, if you default on your loan, the lender may deduct the outstanding balance from your policy’s surrender value or claim amount.
तसेच, वाचा – lic पॉलिसीवर लोन: व्याजदर, पात्रता आणि अप्लाय कसे करावे
Eligible insurance policies for availing a loan
Not all life insurance policies are eligible for securing a loan. The policy must have a surrender value. The lender sanctions the loan amount based on this value. Also, the policy should be active and have no outstanding loans against it.
In general, the following types of policies are eligible for a loan against insurance:
- Endowment policies: These policies provide a lump sum if the policyholder survives the policy term. They are commonly accepted as collateral by lenders.
- Money-back policies: These policies provide periodic payouts after a specific period. The accumulated surrender value makes them eligible for loans.
- Whole life policies: They provide lifelong coverage to the policyholder and accumulate cash value over time. Lenders may accept them based on specified conditions.
- ULIPs: These are market-linked insurance plans. Some lenders provide loans against ULIPs based on their fund values.
Loan amount, interest rate, and repayment terms
The loan amount, interest rate, and repayment terms for a loan against a life insurance policy depend on several factors. These include the policy’s surrender value, the borrower’s credit profile, and the lender’s internal policies. Terms may vary across lenders. It is important to read the loan agreement carefully to understand charges, conditions, and repayment rules before applying.
Maximum loan based on surrender value
Lenders typically decide on the maximum loan amount you can borrow based on your policy’s surrender value. In most cases, you can borrow up to 80% to 90% of this value. The exact percentage may vary depending on the insurer and lender. Policies with a high surrender value qualify for a higher loan amount. It is always useful to check the eligibility limit before applying.
Interest rate structure and reference rates
The loan against a life insurance policy interest rate depends on the lender’s policy and your credit profile. Borrowers with strong credit scores may get better rates. The rates can be fixed or floating. Fixed rates remain the same throughout the loan tenure, while floating rates may change based on market benchmarks. It is important to compare offers from multiple lenders before zeroing in on one.
Repayment options and tenure details
Repayment terms for these loans are usually flexible. You can choose a convenient tenure between six and twelve months. Some lenders also allow you to extend the loan tenure until the policy term. You can even choose to repay the loan amount via regular EMIs or a lump sum at the end of the tenure. Delayed or missed EMI payments may attract penalties and can also hurt your credit score.
Eligibility criteria for a loan against a life insurance policy
Eligibility for a loan on a life insurance policy depends on several factors. These include the applicant’s age, active policy status, income level, credit score, and the policy’s minimum surrender value. The policy must be in force and have built sufficient value over time.
Lenders may also assess your repayment capacity to determine your eligibility. It is important to note that the eligibility criteria may vary from one lender to another.
Who can apply?
Anyone can apply for a loan against a life insurance policy, provided they meet the lender’s basic eligibility criteria. Here are the usual guidelines that most lenders in India follow:
- Age: The applicant must be between 18 and 60 years old.
- Employment: The applicant can be salaried or self-employed.
- Policy: The policy must be in force and not lapsed.
- Minimum surrender value: Most lenders require a minimum surrender value of Rs. 10,000.
- Credit score: The applicant’s credit score must be 700 or more.
Documents required for loan processing
Lenders typically require the following documents to process a loan against a life insurance policy:
- KYC documents: Include basic ID and address proof. It can be your PAN card, Aadhaar card, voter’s ID card, driving license, or Passport.
- पॉलिसी डॉक्युमेंट: ओरिजिनल लाईफ विमा पॉलिसी सर्टिफिकेट किंवा बाँड, सरेंडर वॅल्यू स्टेटमेंट आणि पॉलिसी नियुक्ती पत्र.
- Bank statements or a cancelled cheque.
- योग्यरित्या भरलेला लोन ॲप्लिकेशन फॉर्म.
- अलीकडील पासपोर्ट-साईझ फोटो.
नोंद घ्या की ही यादी सूचक आहे. The lender may ask for some additional documents during loan processing.
Fees and charges applicable
Apart from the interest charges, the lender may levy the following fees/charges on a loan against a life insurance policy:
- Processing fees: Charged by the lender for reviewing and handling the loan application. Usually expressed as a small percentage of the sanctioned loan amount. Some lenders also charge a flat fee.
- Late payment penalty: Usually charged as a flat fee if the loan EMI is delayed or missed. Some lenders also impose penal interest on the overdue amount.
- Foreclosure charges: Levied only if a borrower repays the loan amount before the end of its original tenure.
- Loan recovery fee: Levied only if the borrower defaults on the loan and the lender initiates recovery proceedings.
Since charges can vary by lender, it is advisable to check the latest fee schedule and read the loan agreement carefully before proceeding.
तसेच, वाचा – भारतातील क्रेडिट इन्श्युरन्सचे प्रकार
Step-by-step process to apply for a loan against an insurance policy
भारतातील बहुतांश लेंडिंग संस्था तुम्हाला लाईफ विमा पॉलिसीवर लोनसाठी ऑनलाईन अप्लाय करण्याची परवानगी देतात. असे करण्यासाठी स्टेप-बाय-स्टेप गाईड येथे दिले आहे:
1. तुमची पात्रता तपासा
तुम्ही लेंडरसह लाईफ विमा पॉलिसीवर लोनसाठी अप्लाय करण्यास पात्र आहात का ते तपासा.
2. ॲप्लिकेशन फॉर्म भरा
पात्र असल्यास, लेंडरच्या वेबसाईटवर ऑनलाईन लोन ॲप्लिकेशन फॉर्म भरण्यासाठी पुढे सुरू ठेवा. तुम्ही सर्व तपशील योग्यरित्या इनपुट केल्याची खात्री करा.
3. आवश्यक डॉक्युमेंट्स सबमिट करा
पॉलिसी असाईनमेंट लेटरसह आवश्यक डॉक्युमेंट्स सबमिट करा. तुम्ही त्यांना थेट लेंडरच्या वेबसाईटवर अपलोड करू शकता.
4. Wait for the lender’s approval
Wait until the lender verifies your documents and provides approval for the loan.
5. Get money in your bank account
Upon successful approval, the loan amount will be disbursed directly to your bank account.
Important considerations before taking a loan against insurance
Before you apply for a loan on a life insurance policy, here are a few things you should keep in mind:
- Understand the potential impact on your policy benefits. If the loan remains unpaid, it may reduce the final maturity value or the death claim.
- The interest may continue to accrue over time, thereby increasing your total liability.
- If the dues exceed the surrender value, you may lose all policy benefits. The insurer may terminate your policy before the maturity date.
What happens if you fail to repay the loan?
If you fail to repay your loan within the normal tenure, the lender may offer you a grace period to make the payment. You can repay the outstanding amount, along with the late payment charges, within this period. However, if you are still unable to repay the loan after the grace period, the lender reserves the right to deduct the dues from your policy’s surrender value.
In case of the borrower’s death before repayment, the lender deducts the outstanding balance (along with interest) from the death claim. The remaining amount, if any, is paid to the nominee.
Hence, it is important to repay the loan on time. Proper planning can help you use this option wisely without affecting your long-term financial security.
सामान्य प्रश्न
A loan against a life insurance policy is a secured loan where you use your policy as collateral. The lender gives funds based on the policy’s surrender value. Your policy stays active, and you continue to receive its benefits while repaying the loan.
The loan amount is calculated as a percentage of the policy’s surrender value. Most lenders offer around 80% to 90% of this value. The exact amount depends on the insurer, policy terms, and lender policies. A higher surrender value usually means a higher eligible loan amount.
Not all life insurance policies are eligible for a loan. Lenders usually accept policies that have a surrender value. These include endowment plans, money-back plans, whole life policies, and some ULIPs. Term insurance plans are generally not eligible since they don't have a surrender value.
The loan against a life insurance policy interest rates start from 8% per annum. The exact rate depends on factors like surrender value, borrower’s credit profile, and loan terms. Since it is a secured loan, rates are generally lower than personal loans.
Yes, you can continue your life cover after taking a loan against your policy. The policy remains active, and all benefits stay intact. However, if you fail to repay the loan amount or interest, the lender may deduct the dues from the final claim or maturity value.
If you fail to repay the loan on time, the lender can recover the dues from your policy’s surrender value. It includes both outstanding principal and interest. If dues become too high, the policy may lapse, and your life cover could be lost.
Yes, there can be processing fees and prepayment charges on a loan against a life insurance policy, but they vary by lender. The processing fee is usually charged at the time of disbursal and may go up to 3% of the loan amount. A prepayment or foreclosure charge is levied if the borrower pays off the loan before the scheduled date.
15 एप्रिल 2026
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