What Kind Of Life Insurance Can I Borrow Against? 
You can borrow against permanent life insurance -LRB- also called cash value life insurance -RRB- policies that have enough cash value for borrowing . The two major types of permanent life insurance are Whole Life and Universal Life . Universal life includes fixed universal life , indexed universal life and variable universal life . It is imperative to make sure that you do n't borrow too much from the policy and cause it to lapse . A lapsed policy with a loan against it can result in tax implications for the policy owner . 