The Best Life Insurance Policy Loan Rates
"Whole life and Endowment policies lock up your money for 20 years or longer. There are only 2 ways to unlock it: (i) redeem early or (ii) borrow from the insurance company and pay its interest rates."
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The Best Life Insurance Policy Loan Rates "Whole life and Endowment policies lock up your money for 20 years or longer. There are only 2 ways to unlock it: (i) redeem early or (ii) borrow from the insurance company and pay its interest rates." |
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Rank |
Insurance Company |
Interest Rate |
|
1
|
NTUC Income |
5.50 % |
|
2
|
Great Eastern Life |
6.00 % |
|
2
|
OAC |
6.00 % |
|
2
|
Prudential |
6.00 % |
|
3
|
Aviva |
6.50 % |
|
3
|
HSBC |
6.50 % |
|
4
|
AXA |
6.75 % |
|
4
|
Manulife |
6.75 % |
|
5
|
Asia Life |
7.20 % |
|
6
|
AIA |
8.00 % |
|
6
|
UOB Life |
8.00 % |
How it works: If you own a cash value life insurance policy (like a whole life, education or other endowment policy) you can borrow money from your insurance company. Interest rates vary from 5.5 to 8.0 per cent.