Phone in hand - receive immediate support of up to 10 million Vietnamese dong through the Cashberry app

Cashberry - quick, convinient 24/7 online loans solution

CashBerry is a financial company, providing an online loan consultation service that is fully automated, disbursed within the day.

Loan term, days

By clicking on the Get a loan button above, you agree that you have read and agree with all content provided in the Terms and Condition and Privacy Policy

Payment date: 1
To return: 1 ₫

The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
Getting approval and Signing an Agreement
The approval results will be anounce via phone call. Only need to log in to Personal account and sign an Agreement.
Receive money
After the application is approved, our partner will transfer the money to your account.
Make repayment to our partner according to the instructions.
with flexible terms at CashBerry
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum
Get loan
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

After the epidemic period, the income is low, but there is an additional burden of insurance. This makes many people want to withdraw their insurance money as soon as possible.

During the time of COVID-19 raging, the demand for early withdrawal of life insurance money to regain capital increased. Along with that is the possibility that the insured will lose nothing. If you are in urgent need of money and are considering the decision to withdraw your life insurance money early , do not ignore this article.

Nature of life insurance

Surely, before signing a life insurance policy, you have been thoroughly consulted by an insurance officer. However, in order to arrive at a decision to withdraw your insurance before maturity , you need to review the nature of life insurance.

Life insurance is a product of insurance companies. It protects people against risks related to health, body and life. When participating in life insurance, you will pay regular fees to the financial reserve fund managed by the insurance company. Unfortunately, there is a risk or due to maturity, you will be paid a certain amount.

According to Clause 1 - Article 12 - Law on insurance business

An insurance contract is an agreement between an insurance buyer and an insurance enterprise, whereby the insurance buyer must pay a premium, and the insurance enterprise must pay the insurance premium to the beneficiary or indemnify the beneficiary. insurance when the insured event occurs.

Thus, the essence of life insurance is a safe financial reserve for the future. The purpose is to replace the source of income when the participant is at risk. Therefore, life insurance is of great significance to people. It not only helps you stabilize your life when unexpected mishaps occur. It is also a way of sharing risks in the community, taking the majority to compensate for the few.

Life insurance is being chosen by more and more people

Life insurance is being chosen by more and more people

* Life insurance packages you need to know before joining:

Knowing the life insurance packages will answer the question " how many years to withdraw the insurance ". As well as calculate the time to withdraw the insurance money before maturity in a mandatory situation so that it is reasonable. Life insurance plans usually have a term of 10-20 years or a lifetime. Pay premiums from 1 year, 5 years, 10 to 20 years.

After reviewing the nature of life insurance, you must be wondering about how much money you get when you withdraw your life insurance money early, right? Stay tuned for the rest of the article!

Can life insurance withdraw money ?

This is the question that policyholders ask the most. Especially during the epidemic, participants want to recover the insurance amount. The answer, of course, is YES. However, no insurance company expects customers to withdraw their life insurance money early . Because that doesn't bring much benefit to its customers.

Either way, doing this also means you accept the disadvantage. In many cases, the policyholder will lose nothing, completely receiving no money from the insurance company.

Depending on the type of life insurance policy you have, there are 3 ways to withdraw your life insurance money early:

●    Option 1: withdraw up to 80% of the contract account value.

●    Option 2: Advance does not exceed 80% of contract account value/refund value.

●    Method 3: Cancel the contract and get back the accumulated value available in the account.

How long does it take to withdraw life insurance?

The benefits of life insurance are undisputed. But once you join, you must accept that early life insurance withdrawals may not always be possible.

During the first 2 years of participating in life insurance, premiums are set aside in the risk reserve fund. Because the risk ratio in the first years of the insurance company is very large. Although you only pay 10 million, but when the insurance event occurs, the insurance company has to pay up to 1 billion dong.

This shows that, if you insist on withdrawing your insurance money early in the first 2 years, you will lose everything. From the 3rd year, the new cashback value begins to form. Therefore, to withdraw money, you must participate in insurance for 2 years or more.

The demand for early withdrawal of life insurance money increased rapidly during the epidemic

The demand for early withdrawal of life insurance money increased rapidly during the epidemic

How to get the most benefit from withdrawing life insurance money?

Should not withdraw insurance money early because of too many disadvantages. So when can I withdraw life insurance money ? To get the most benefit from life insurance withdrawals, you need to know the appropriate withdrawal times.

1. In case of withdrawal of life insurance money before the maturity date

In the first 2 years of buying life insurance

In the first 2 years, the return value of the insurance is almost zero. If you withdraw your life insurance money early , you will not receive any money. The amount you pay will be deducted from fees such as management fees, printing, medical examination, ...

According to Article 35 - Clause 2 - Law on insurance business

In case the premium is paid in many times and the policyholder has paid one or several times of the premium but cannot pay the next premiums, after 60 days from the date of extension of payment the insurance enterprise has the right to unilaterally suspend the performance of the contract, the insurance buyer is not entitled to recover the premium paid if the period of premium payment is less than two years, unless the parties have other agreement.

Based on this, it is legal for the insurance company to pay you little or no money when you request early withdrawal of insurance.

Valid after 2 years and before the maturity date

After 2 years, new life insurance has a refundable value and increases each year. If you intend to withdraw the insurance money early, you will receive a certain amount. However, this amount is still lower than the amount paid. It is not until the middle of the insurance premium period that the refund value is equal to the amount paid. If you withdraw as soon as possible, you will only receive losses.

For example: You buy life insurance with a term of 10 years, you have to pay 7 million each year. But in the 9th year, because of the money jam, you want to withdraw the insurance money early. Instead of waiting another year to receive 200 million, you only get 55 million dong, which means a loss of 8 million.

To the due date

There is no better time than maturity. When withdrawing life insurance at maturity , the principal and interest will be paid in full by the insurance company. But if you still want to leave the money, the money is still profitable. However, the insurance benefits for accident, death, injury, ... are no longer available. To maintain benefits, you must renew the contract for a certain period of time.

Life insurance, a "shield" to protect you during the epidemic season

Life insurance, a "shield" to protect you during the epidemic season

2. In case of withdrawal of life insurance money when the insured event occurs

When an insured event occurs related to an accident, injury, etc., of course, the participant is forced to withdraw the insurance money before the due date as soon as possible. During this time, the amount that you receive will be much larger than the amount you paid according to the original agreement.

However, the risk must come from objective reasons to receive that amount. In case, the customer voluntarily causes injury, the insurance company will not compensate.

If the amount you need is not so high that you have to withdraw the insurance money early, you can refer to the quick online loans from 1 to 10 million at CashBerry. This is a form of borrowing money through the app with a very simple procedure, quick disbursement in just a few minutes, helping you to have cash immediately to rotate business capital and spend.

CashBerry online loan - a safe financial solution during the pandemic

If you need a large amount of money urgently but do not want to withdraw your life insurance money early , this is the right form for you. This is a form of unsecured loan where customers do not need to mortgage assets.

Currently, you only need to be a Vietnamese citizen from 18 to 60 years old, have a valid ID/CCCD and a minimum income of 3 million VND/month to be able to apply for CashBerry's online loan. Next, complete the loan application by following these simple steps:

- Step 1: Fill in all required personal information at website or CashBerry app (available on CH Play).

- Step 2: Once the registration is complete, click submit for the system to receive and process. Usually, it will take about 15 minutes for the experts to appraise. If you are eligible, a staff member will contact you to confirm the information as well as notify the loan amount.

- Step 3: The application is approved and the loans will be disbursed immediately.

Above is information related to early withdrawal of life insurance Besides, you should also learn more about 24/7 online lending services at CashBerry. For more information, please contact hotline 1900638385 or message Fanpage CashBerry - Your financial friend!

Help Help