Loan taken by a partner on the security of joint life policy

What we usually do, in case of surrender of JLP, we distribute the amount of jlp reserve (e.g.rs12400) in the partners' profit sharing ratio (psr), as benefit of rs2600(15000-12400) had already been given to partners.
In this case, as the amount of rs500 (10200+5000+300-15000) is received more than what was appearing in the balance sheet (i.e.15000).  Now the total benefit of rs12900 (i.e. 12400+500) will be distributable among the partners in their psr. Rs5300 will be treated as the partner's Add drawings and will be debited to his capital account.

Usually, the entries in this case will be:
1)Bank a/c dr. 10200
Add's Drawings a/c dr. 5300
To jlp a/c 15500

2) jlp reserve a/c dr. 12400
Jlp a/c dr. 500
To partners'capital a/c (in their psr) 12900

3) Add's capital dr. 5300
To Add's drawings a/c 5300

However, in response to your question (IPC G2 PM), the amount of rs 12900 will be first credited to realisation account and thereafter the profit of realisation will be distributed among partners in their old psr.

Hello mam. 

What will be the entry when the partner takes loan on the security of JLP with the insurer?