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Glossary   >   P   >   "Policy loan" Definition            Policy loan A loan granted by a life assurance company to a policyholder. The extent of the loan is based on a percentage of the surrender value (typically up to 90%) of a whole life or endowment policy. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Policy loan - A loan granted by a life assurance company to a policyholder. The extent of the loan is based on a percentage of the surrender value (typically up to 90%) of a whole life or endowment policy.