Can I Borrow On My Life Insurance? 
First it depends on the type of policy you have . If it is a term policy then the answer is no . If it is a cash value policy i.e. whole life , universal life , indexed universal life , then the answer should be yes over time . Most cash value policies take 5 to 7 years to build a cash value because of cost of insurance that must be covered in those first years . To borrow , you need to stay on a percentage basis that will not allow the policy to lapse and cancel unless you intend to repay the loan in a short time period . I recommend having your agent or insurance company run some illustrations of different amounts to keep your policy in force.Otherwise you are actually defeating your own purpose for the plan . 