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    1. Loan is admissible on Whole Life Assurance (WLA), Endowment Assurance (EA) and Convertible Whole Life Assurance (CWLA) policies.
    2. Currency of policy should be minimum of 3 years in case of EA and CWLA.
    3. Currency of policy should be minimum of four years in case of WLA.
    4. Policy should be unencumbered/ unassigned.

    5. Loan Limit:

      (a) Whole Life Assurance

      Currency of Policy

      Percentage of surrender value on which loan is admissible

      More than 4 years to 7 years

      60%
      More than 7 years to 12 years 80%
      More than 12 years 90%

      (b) Endowment Assurance and Convertible Whole Life Assurance

      Currency of Policy

      Percentage of surrender value on which loan is admissible

      More than 3 years to 5 years

      60%
      More than 5 years to 10 years 80%
      More than 10 years 90%


    6. Insurant should apply on LI-35 (loan application) and send to DDM (PLI) alongwith policy document and premium receipt book.
    7. Second and subsequent loan is admissible after a year if the first loan is fully repaid.
    8. Loan interest @ 10% p.a is calculated on six monthly basis.
 
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