Does insurance companies give out loans?

[Trush Jodie]

Insurance companies are financial institution by the definition of it. And I want to believe that one role of a financial institution is to give out loans.

Can one get a loan from an insurance company? What does it take to get insurance company to give you loan, if possible?

 

[eLdavis]

Yes there are some insurance companies that actually gives loans, especially the ones who give permanent life insurance.

 

[Kross]

Insurance companies also give out loans. You can use your Life Insurance to secure a loan if your meet the requirements.

 

[Springtime]

Yes, insurance companies do give out loans, especially for life insurance policyholders.

 

[Suba]

As far as I know, or only applies in my country, insurance companies cannot directly provide loans to you, like you take out a loan at a bank, but insurance companies offer credit life insurance products that provide protection to financial institutions or banks, especially if the debtor dies.

 

[King Belieal]

Insurance companies don't give loans like banks give loans. They only offer credit for policies that accumulate cash holdings.

 

[Nomad]

In our country, if you have a life insurance policy, you can get up 80 percent of the money you have paid as premium.

 

[Fidelia]

Insurance companies do not give out loans. They might have other investments. But they don't give loans.

 

[Augusta]

Sure, Insurance companies give you loan upto 90% of your surrender value of existing policies. And one can pay interest on it though