if you buy whole life they tell you you can borrow "your money" but you have to pay back with interest because if you don't if you die the company will deduct the money you borrow from the death benefit sya you have 100,000 insurance and you take 20 and don't pay it back you die your family only gets 80,000. and if you dont take any money and you have 100,000 benefit and 20,000 cash value and you die your family gets 100,000 and the company keeps your cash value.now universal life is a little confusing it works like this example you buy 100,000 for 45 dls a month with part of this they buy you a annualy renewal term ins.the rest goes to a savings account what happens every year it cost them more to keep this term ins. on you aroun 48 years of age what you pay in premiums it is not enough to cover this term ins. so what they do they start using the money from your savings to keep your premium the same but around age 67 your cash value is gonesoyouneedtopaymoretokeepyourinsuranc...