There are several good reasons to borrow money from your life insurance policy.

When you buy a Whole Life Insurance Policy, you build up cash value inside the policy over time.

You can borrow against this cash value in your policy for any number of reasons, including for a down payment on a new home, for a child's college education, or even for a car.

The interest you pay on your loan is very low, and you may be able to borrow up to 80% of the cash value in your life insurance policy.

If you choose, you do not have to ever repay the loan, although that will lower the death benefit paid out on your life insurance plan.