Keep in mind…
With whole life insurance, the cash value doesn’t automatically roll into the total payout. Make sure you review your policy closely, because in many cases if you don’t use your cash value while you’re alive, you’ll lose it. If that’s the case, this may be an ideal time to tap into cash value.
Also remember you may have to pay taxes on loans or cash withdrawals. Check with a tax specialist or accountant to ensure you fulfill all of your tax obligations.