How Does Borrowing Against Life Insurance Work? 
Permanent policies have cash accumulation in them and you are basically drawing out the cash you 've put into them for personal use . There is going to be an interest charged to the money usually at around 6 % where I 'm at , but you do n't usually have to pay that back . You also want to be aware of that if you the accumulation value gets to low and ends up going to 0 then the policy will lapse . 