Скачать или смотреть Life Insurance: Policy Loans & Automatic Premium Loan (APL)

Two types of policy loans can be made against cash value policies: standard policy loans and APLs.
A policyowner may borrow the entire cash value of a policy, less an amount that is equal to the interest due on the next policy anniversary.
Most insurance companies charge interest in arrears (after the time has passed for which interest is due), though others charge interest in advance.
Companies that charge interest in advance may state that they have a lower interest rate; however, because it is charged in advance, it is often equivalent to a higher interest rate.
With most life insurance policies, if a premium is not paid by the due date, and is also not paid by the end of the grace period, the policy will lapse.
Many cash value policies have an automatic premium loan (APL) provision in the contract that can prevent a lapse from occurring.
At the time the policy normally would lapse, if adequate cash value exists, a policy loan is created to cover the premium due.

An APL can operate as a policy safety valve. In the event that the client is hospitalized, traveling, or simply misses a payment, the policy will stay in force after the grace period.
The APL provision prevents policy lapse. In fact, some policies will last for years using the APL provision to keep them in force.
Interest on the APL is due on the policy anniversary; if payment does not occur, the loan amount increases to include the interest due.
A policyowner may realize that premium payments have ceased and arrive at the false assumption that the policy has lapsed.