Can I Borrow Against My Life Insurance? 
That is a great question ! If the following things are in place , then yes , you certainly can . - It must be a whole life policy . Term life policies have no cash value to borrow from , it 's part of the reason they are so cheap . - you must be the owner of the policy . - the policy must be in force for a few years . Typically , the first 2-3 years of your policy 's life the cash value is very small , as the premiums paid cover the cost of the insurance for the company . - the amount that you borrow falls within the limits set by the policy . Many companies will limit the amount that you can borrow , to limit the risk that the loan balance with interest does not allow the policy to go belly up . If you can meet all of these criteria , than chances are very good that you can have a tax free check in your hands in just a couple of days ! Thanks for asking ! 