Which Life Insurance Can You Borrow Against? 
Because life insurance doesnt insure against a possibility , rather it insures against inevitability , it must provide continuous coverage at a guaranteed premium for a period of time . To provide a plan where the premium is level , permanent policies were developed . They set aside money to pay the premiums when they become excessively high . During the policy period the company is usually willing to exchange the promise of the death benefit in exchange for the money that they have accumulated . That money is guaranteed in the contract and is known as the cash value . That can be exchanged for the policy or used as collateral to secure a loan . 