If you urgently need some money, you can: Use your policy as security for a loan. If you policy has a termination value, you can use this as security for a loan from the bank. Remember, you will have to pay interest on the money you borrow. You will also be required to CEDE the policy to the bank. This means that the bank is the beneficiary of the policy (up to the value of the loan) until the loan has been paid back. Take a loan from the life assurance company. If your policy has a termination value, the life assurance company will allow you to take a loan of part of this value. You are allowed to take one loan in the first five years. Some companies charge interest on the money you borrow, although some policies provide zero-interest loans.