Can I Borrow From My Globe Life Insurance Policy? 
That is a great question ! The only things that you need to have in order to borrow from your Globe Life -LRB- or any company 's life insurance policy -RRB- are these : First , that you are the owner of the policy . If Your parents bought it for you when you were young , and they are still the owners , you will not be able to borrow from it . They can , but you ca n't . You must be the owner of the policy . Second , it must be a whole life policy , as term policies have no cash value ; And third , that there is an adequate cash reserve to borrow from . If the policy is fairly new , there may not be much to borrow from , or if there has already been a loan taken , you may not be able to take more cash out , without tanking the policy . My advice would be to contact your agent , or Globe themselves , -LRB- have your policy number handy -RRB- and ask them if you are good to borrow . Good luck , and thanks for asking ! 