[Billbo]

Here's the But: The loan will be paid back, either while your you're alive, at the time of death or at the surrender of the policy. Taxes on the gain will be paid, no free lunch. The insurance company will not loan out more than you have in built up cash value (equity). Your death benefit will be reduced by the amount of any outstanding loans. Buy life insurance for the death benefit, never as an investment vehicle. Buy term (if you need the coverage) and invest the difference.