Can I borrow money against the cash value of my permanent life insurance policy?

Yes, you can borrow money against the cash value of your permanent life insurance policy. With a permanent life insurance policy, a portion of your premium payments is allocated to the policy's cash value, which accumulates over time. This cash value can act as a source of liquidity that you can borrow against when needed. By taking a loan from the cash value, you can access funds for various purposes such as paying for education, covering unexpected expenses, or supplementing retirement income. However, it's important to note that borrowing against the cash value reduces the death benefit and may accrue interest. Additionally, policyholders should consult with their financial advisor or insurance agent to understand the terms, conditions, and potential impact on the policy before considering borrowing against the cash value.