Kathmandu. Loans up to 90 percent of the surrender price can be obtained by pledging a life insurance policy. In order to get a loan on policy collateral, you have to have completed 3 years of life insurance.

Such provision has been made in the guideline on life insurance policy made public by the Insurance Committee. Earlier, it was possible to take a loan after two years of insurance, but it was possible to get a loan up to 80 percent of the surrender value of the insurance policy.

The insurer (insurance company) will be able to surrender the insurance policy after the completion of three years from the date of commencement of insurance and also in case of single insurance policy payment after the completion of three years from the date of commencement of insurance and provide loan with collateral. , 'Is mentioned in the directory.

In case of single policy, 80 percent of the premium and bonus earned will have to be paid after completion of three years from the date of issue of the policy. Similarly, up to 85 percent after 4 years of issuance of insurance and bonus up to 90 percent of insurance premium after completion of 5 years and bonus amount has to be paid by the companies to the insured.