Can You Take A Loan On A Term Life Insurance Policy? 
At no time in the life of Term policies do they have cash value to borrow against , so no you can not borrow against a term policy . Additionally you can not use a term life policy as collateral for a loan as you can with a Whole Life policy . Credit term policies are designed to pay off a debt in the case of death of the debtor before the credit is repaid . On the other hand , Whole Life policies have cash value , grow wealth tax free , may be used as collateral and may be borrowed against . Contact me for more information . 