Simple Life Insurance Act Article 23
The applicant of a simple life insurance policy may, once the premium has been fully paid for more than one year, use the policy as collateral to apply for a loan not exceeding the policy value reserve with the insurer.Prior to repayment of the loan described in the preceding paragraph, any unpaid principal and interest thereof shall be deducted from the endowment or benefits payable if and when the insurance contract ceases to be valid, terminates, reaches maturity or an event insured against has occurred.
中文原文 簡易人壽保險法第23條
簡易人壽保險之保險費付足一年以上者，要保人得以保險單為質，在其保單價值準備金額內，向保險人申請借款。
前項借款未清償前，因保險契約效力停止、終止、滿期或發生保險事故時，其所欠之本息，應於給付之金額內扣抵之。
前項借款未清償前，因保險契約效力停止、終止、滿期或發生保險事故時，其所欠之本息，應於給付之金額內扣抵之。