Policy Loan Repayment
Servie Introduction
If the policyholder has applied for a policy loan when the policy is inforce, they can choose to repay the policy loan in full or partial of the loan at any time after the policy loan amount has been disbursed and the policy is in effect. For a partial loan repayment, the amount must not be less than the full amount of accrued interest. The interest on the policy loan will be settled once on each policy anniversary, and any overdue interest will be added to the principal of the loan and calculated with compound interest. Any remaining loan balance plus interest will be deducted from the coverage amount of the policy. If the loan balance and unpaid interest exceed the cash value of the policy, the policy will become invalid.
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FAQs & Important Notes

Generally, policies with outstanding loan will not affect your policy coverage. When processing policy loan applications, funds are borrowed from the policy's cash value, provided that your policy has cash value and meets the loan criteria.

However, please note that if you fail to repay the loan principal and interest, the insurance company may deduct the outstanding debt from the policy's cash value, which may affect your future policy cash value or claim amount. If the loan balance and unpaid interest exceed the cash value of the policy, the policy will lapse.

The current APL interest rate is 7% per annum. The relevant interest rate is determined by us, which is subject to regular review and adjustment at the Company's sole and absolute discretion.

Policy loan repayment can be made at any time while the policy is in force, and the repayment amount must not be less than the accrued loan interest at the time of repayment.

Policyholders can log in to the China Life Overseas App and use the "Policy Details" feature to check the principal and interest of their policy loan.

Policyholders can log in the China Life Overseas App, use the "Application for Policy Repayment" function to apply and obtain for a repayment quotation, and then proceed with the repayment through ATM (JETCO), PPS, local bank internet banking, or 'Faster Payment System' (FPS).