ADVERTISEMENTS:

Sample request letter to insurance company for loan against policy

Sample request letter to insurance company for loan against policy.

To

The Branch Manager,

Company Name,

ADVERTISEMENTS:

Address,

Ref.: policy No. …………………………, own life.

Dear Sir,

I need a loan against the policy mentioned above for my son to pursue his studies as he has joined a professional course (B. Tech). Please let me know the maximum loan I can avail myself of against the surrender value of my policy. Also, please provide me with a schedule of terms and conditions of repayment.

ADVERTISEMENTS:

Thanking you,

Yours faithfully,

…………………………

Public Service Loan Forgiveness (PSLF) Program - Union Benefits Trust

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Sample reply to the above loan request letter

To

ADVERTISEMENTS:



…………………………,

Address

Ref.: Loan against Policy No. …………………………

Dear Sir,

We acknowledge the receipt of your letter dated ……………… requesting for loan against your policy.

The surrender value of your policy totals to Rs. 60, 000. An interest of 10% per annum will be charged from you.

Documents mentioned below should be complete by you and posted to us within 15 days, if you are interested in obtaining this loan.

Loan application form

Declaration form

Receipt for loan

Policy duly discharged

Soon after the completion of formalities and verification of forms we shall send you a cheque drawn on ………………………… (bank name).

Your policy will remain discharged till the repayment of loan.

Yours faithfully,

Sd/- …………………………

Branch Manager

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