What does it mean when you have a insurance policy that says cash value 8000 and face value 16000? 
Generally , whole life and some universal life policies have a cash value as the policy ages . This is the amount of cash available for loan . If you look at a current illustration which can be obtained from the insurance company , you will see that the cash value and surrender value will be the same in later years . The face value is the death benefit which will be paid minus any borrowing of the cash value . If you do decide to borrow , make sure you understand how that will affect the policy and premiums in later years . 