Can You Get A Loan On A Term Life Insurance Policy? 
You can not get a loan ON a term life insurance policy , because term life does not have any cash value to borrow from . But you can get a loan WITH a term life insurance as collateral , with some lenders . Some lenders do n't care that your policy does n't have cash value , they just want to know that they would get paid if you passed away before your debt was settled . 