What Life Insurance Can You Borrow Against? 
You can borrow against any life insurance policy that has a cash value built up in it . This can be Whole Life , Universal Life , or Indexed Universal Life -LRB- IUL -RRB- . Some people use IUL by putting a large amount of money into the policy while they are younger , then borrowing from their policy when they are older for an income stream during retirement . 