Can I Borrow Money From My Life Insurance? 
Assuming you have a permanent life insurance policy that builds cash value -LRB- like Whole or Universal life -RRB- it can be an excellent source of funds . However , you should proceed with caution because you do not want to withdraw too much . Contact your agent or your insurance company 's customer service department to learn what they recommend . You might also ask them if you would be better off just withdrawing the needed cash . There are different consequences when you withdraw funds in lieu of borrowing . 