Can You Borrow Against A Term Life Insurance? 
There is no cash value in a Term life insurance policy to borrow against . However , some Term life insurance has `` living benefits '' that allow the insured person to take part of the face amount in cash in case of critical or chronic illness . Others have built in riders that allow the insured person to take part of the face amount in cash if diagnosed as terminally ill . This is not borrowing from the policy ; this is giving up that amount of the death benefit in order to use it while still alive . But it is one way that a person can get cash from a Term policy . 