Can I access the cash value in my participating life insurance policy?

Yes. As cash value builds, there are three ways to use it without giving up your coverage: a policy loan from the insurer, a loan from a bank or other lender with your policy as collateral, or a withdrawal, usually by cashing in paid-up additions or dividends left on deposit. Any loan still owing when you die is paid from the death benefit, and a withdrawal lowers your cash value and death benefit. Using your cash value may be taxable, so we’ll walk you through it before you decide.