Guide on GSIS Policy Loan Loanable Amounts
GSIS POLICY LOAN – Here is a guide on how much you may borrow under the policy loan offer of Government Service Insurance System.
In the Philippines, the Government Service Insurance System or more commonly called GSIS is one of the biggest social insurance institutions. Its members are individuals who are working in the government or the public sector.
GSIS was the entity that helped a lot of Filipinos in times of their financial needs. It has several benefits and loan offers for its members. To have a chance of qualifying for these offers, a member must have accumulated savings in the social insurance institution. It is possible by maintaining an active account through contributing monthly.
One of the loan offers of the Government Service Insurance System is the GSIS Policy Loan. Let us discuss this loan offer to GSIS members.
The GSIS Policy Loan is a loan offer or loan facility that members of the social insurance institution may avail from their insurance policy. The government agency offers two (2) insurance policies – the Life Endowment Policy or LEP and the Enhanced Life Policy or the ELP.
How much you may borrow under the GSIS Policy Loan? The loanable amount depends on the type of loan policy that you have. Here are the loanable amounts:
- Life Endowment Policy (LEP) – up to 70% of the accumulated termination value of your policy
- Enhanced Life Policy (LEP) – offers 50% of the cash value of your policy
Who are qualified to apply for this loan offer? To check on the qualifications set by the Government Service Insurance System under this loan offer, feel free to visit – Regular Policy Loan GSIS – List of Qualifications in Applying for this Offer.
You may also visit – GSIS LOANS – 3 Ways To Apply For GSIS Loan Offer
