Variable interest rate for cash advances

Couple applying a cash advance against their group insurance plan towards building their home

Published on 12/02/2020

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The option to take out a cash advance against the cash value of a group insurance plan is a handy way to finance the purchase of a house or holiday home, or even to use towards paying off a mortgage loan. A benefit your staff members will surely appreciate. The variable interest rate for this year is also 1.25%.

This interest rate, valid for one year, will be revised annually, either upwards or downwards. For cash advances with annual interest payments at a variable rate, the interest rate in 2020 will be the same as last year: 1.25%.

Are your staff members aware of the benefits of a cash advance?

Your staff members have the option to take out a cash advance against their group insurance reserves for the purchase, construction or renovation of a home. They can also apply the advance towards paying off a mortgage loan.

On My Global Benefits, your staff members will find all the details and the requirements for taking out a cash advance:

The full details about cash advances on MyGB

Have a question about cash advances or the interest rate?

With the information above, you’ll have everything you need to advise your staff members on taking out a cash advance.

Have a specific question?

Let us know at benefits@aginsurance.be and we’ll be happy to help you.

P.S. Did you know that you can use the e-signature to speed up and simplify the application process for a cash advance?

No change in variable interest rate for cash advances in 2020